Nearly 180 Saudi pilots, air engineers participate in Pakistan Air Force drill

Saudi Royal Air Force (RSAF)'s officials walk with Pakistan Air Force (PAF) officials at Mushaf Airbase, Pakistan to participate in 2021 Air Excellence Center Exercise on March 28, 2021. (Photo courtesy: Saudi Press Agency)
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Updated 29 March 2021
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Nearly 180 Saudi pilots, air engineers participate in Pakistan Air Force drill

  • ACES MEET 2021 exercise is an aerial exercise to maximize the combat readiness of participating air forces
  • Saudi contingent participates with several Panavia Tornado combat aircraft and Lockheed C-130 Hercules

ISLAMABAD: A Royal Saudi Air Force (RSAF) contingent of nearly 180 pilots and air engineering technicians is participating in a two-week drill organized by the Pakistan Air Force, a PAF spokesperson said on Sunday.
The ACES MEET 2021 is an aerial exercise to maximize the combat readiness of participating air forces through air-to-air combat training. The United States Air Force will also participate in the drill.




This photo shared by Saudi Arabia's Ministry of Defense on March 27, 2021, shows Saudi aircraft participating in the Pakistan Air Force ACES MEET 2021 drill. (Photo courtesy: Saudi Ministry of Defense)

The Saudi contingent reached Pakistan on Friday with several Panavia Tornado multirole combat aircraft and the Lockheed C-130 Hercules.
"The RSAF total contingent has almost 180 officials which included pilots, aircraft engineers and technicians," the spokesperson told Arab News.
He added that PAF will be using its F-16 and JF-17 Thunder fighter jets.
"Exercise is aimed at promoting inter-operability and creating environment to learn from each other’s experiences," the spokesperson said, adding that it will include Dissimilar Air Combat Training (DACT), in which pilots undertake air combat exercises against similar aircraft.
"The participation of RSAF with its big contingent is a reaffirmation that both brotherly countries are there with each other and continue to enhance bilateral cooperation and ties."


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.