Six, including former Pakistan army spokesperson, promoted as lieutenant generals

In this April 17, 2017 photo former Pakistan's army spokesman Maj. Gen. Asif Ghafoor addresses a news conference in Rawalpindi, Pakistan. (AP)
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Updated 25 November 2020
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Six, including former Pakistan army spokesperson, promoted as lieutenant generals

  • Lt Gen Asif Ghafoor served as head of the army’s media wing from December 2016 to January 2020
  • He is a recipient of the Chief of Army Staff’s Commendation Card for operations in Bajaur in 2008

ISLAMABAD: The Pakistan army announced on Wednesday that six major generals had been promoted to the rank of lieutenant general, including former military spokesman Asif Ghafoor.
According to a statement issued by the army, the officers promoted are Major General Akhtar Nawaz, Major General Sardar Hassan Azhar Hayat, Major General Asif Ghafoor, Major General Salman Fayyaz, Major General Sarfraz Ali, and Major General Muhammad Ali.

According to the website of the Pakistan army’s media wing, Ghafoor was commissioned on September 9, 1988, in the 87 Medium Regiment and is a graduate of the Command and Staff College Quetta, Command and Staff College Bandung, Indonesia, and National Defense University, Islamabad. He holds a master’s degree in strategic studies.
The general has held various staff, instructional and command assignments including Brigade Major Infantry Brigade, Assistant Military Secretary MS Branch GHQ, Directing Staff Command and Staff College Quetta and Director Military Operations in Military Operations Directorate, GHQ. He has commanded his parent unit in Operation Al-Mizan, Artillery Brigade on the Line of Control, Infantry Brigade on the eastern border and a Division at Swat, Malakand. He is a recipient of the COAS Commendation Card for operations in Bajaur in 2008.


Pakistan’s first non-life Shariah-compliant takaful operator plans share sale in January

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Pakistan’s first non-life Shariah-compliant takaful operator plans share sale in January

  • Pak-Qatar General Takaful Limited plans to raise up to $1.5 million through initial public offering
  • Institutional investors will get 75% of shares, while the remaining 25% will go to retail investors

KARACHI: Pakistan’s first dedicated non-life Shariah-compliant takaful operator said on Monday it will launch an initial public offering this month, seeking to raise up to Rs 420 million ($1.5 million) as Islamic finance gains traction in the country’s capital markets.

The company, Pak-Qatar General Takaful Limited, said it would issue 30 million shares, with a floor price of Rs 10 and a ceiling price of Rs 14 per share. Institutional investors will receive 75% of the shares on offer, while the remaining 25% will be allocated to retail investors.

“Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and book runner for raising funds through the initial public offering,” it announced in a statement.

The book-building process for the offering will take place on Jan. 21-22, it added, with investor registration opening on Jan. 16, while public subscriptions are scheduled for Jan. 28-29.

The offering follows the recent listing of Pak-Qatar Family Takaful Limited, which raised Rs 901 million ($3.23 million) last month in Pakistan’s first Islamic insurance sector IPO, an issue that was oversubscribed several times.

Proceeds from the IPO will be used to strengthen the company’s capital base and support investments in technology, infrastructure and branch expansion, said the statement.

Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.