At Gwadar’s first boat cafe, a sip of tea with view of Arabian Sea

Visitors enjoy tea and snacks at Cafe Padizar, the first boat cafe in the southern Pakistani port of Gwadar on June 20, 2022. (Photo courtesy: Fahad Ishaq)
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Updated 27 June 2022
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At Gwadar’s first boat cafe, a sip of tea with view of Arabian Sea

  • Opened last month, Cafe Padizar, is one of very few hangout spots in the impoverished, underdeveloped region
  • Fahad Ishaq, 21, opened the cafe with his brother after renovating their family’s old fishing boat 

QUETTA: Fahad Ishaq and his brother Qadeer are busy arranging chairs and tables, as visitors arrive from different parts of Gwadar to enjoy a sip of tea and watch the sunset from their three-story boat cafe — the first of its kind in the southwestern Pakistani port.

Opened last month, Cafe Padizar takes its name from the beach where it is docked, overlooking the high, rocky cliffs of the coast of Balochistan province and the Arabian Sea.

The boat, which belongs to Ishaq’s family, has not been used for years after its engines broke down.

In 2021, when he graduated in business administration, Ishaq decided to put his degree to good use and started renovating the old vessel. Together with his brother, the 21-year-old invested Rs1.5 million ($7,200) to bring the boat back to shape and two years later turned it into a hangout spot — one of the very few in the impoverished, underdeveloped region.

“We had decided to turn the boat into a cafe,” Ishaq told Arab News. “The internal parts of the boat were completely damaged, and now there is a space of more than 100 customers.”




Cafe Padizar stands on the coast of the southern Pakistani port of Gwadar on June 20, 2022. (Photo courtesy: Fahad Ishaq)

The cafe serves tea, coffee and snacks. In the future, the brothers are also going to introduce more food items to its menu and give work to more people.

“Right now, we have hired six workers to serve customers in Cafe Padizar,” Ishaq said. “But in the future, we have plans to expand the cafe.”

Business ventures are not always a sure success in Balochistan, a sparsely populated mountainous region bordering Afghanistan and Iran. Despite Gwadar being the center of the China-Pakistan Economic Corridor, it has been reaping few rewards from the multibillion-dollar infrastructure and energy plan.




Aurangzaib Abdul Rauf, right, drinks tea at Cafe Padizar, the first boat cafe in the southern Pakistani port of Gwadar on June 20, 2022. (Photo courtesy: Fahad Ishaq)

Cafe Padizar is not the only business Ishaq runs. His company BOASIS Tourism specializes in bringing visitors from Karachi, Quetta and Islamabad to the sandy beaches of Balochistan. 

“Tourism and traveling have been my passion since childhood,” he said. “Cafe Padizar will help in fostering tourism in Gwadar.”

The first place of its kind in the whole city, Cafe Padizar has so far been successful in attracting visitors, as something entirely new in the city where the last cinema closed nearly two decades ago.




Cafe Padizar is seen in the evening on the coast of the southern Pakistani port of Gwadar on June 20, 2022. (Photo courtesy: Fahad Ishaq)

One of the cafe’s visitors, Aurangzaib Abdul Rauf, said that previously only fishermen had the opportunity to enjoy the views that everyone can now see from the top deck of the former fishing boat.

“The café has been attracting tourists from the nearest towns,” he told Arab News. “The majority of us come here in the evening to enjoy the sea covered by the mountains.”


Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

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Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

  • Pak-Qatar General Takaful Limited offered 30 million shares to investors with ceiling price of Rs14 per share
  • Company says IPO proceeds will be used for investments in software, infrastructure, setting up new branches

ISLAMABAD: Pakistan’s first non-life Shariah-compliant takaful operator announced on Thursday that its initial public offering (IPO) was oversubscribed 21 times at the country’s stock exchange, saying the development reflected strong investor confidence in the Islamic insurance system. 

The Pak-Qatar General Takaful Limited said earlier this month 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 percent of the shares on offer, while the remaining 25 percent will be allocated to retail investors, it added. 

“Pak-Qatar General Takaful Limited’s (PQGTL) IPO book-building has concluded with a historic oversubscription of [21x] times, marking the first-ever IPO of a dedicated General Takaful company at PSX,” the company said in a statement. 

It said investors responded “strongly” as the strike price closed at Rs 14 per share, compared to the floor price of Rs 10. Total demand reached Rs 4.74 billion [$17 million].

The company said successful bidders will be provisionally allotted 22.5 million shares while the remaining 7.5 million shares will be offered to retail investors on Jan. 28-29. 

Shahid Ali Habib, CEO of Arif Habib Ltd., which was the lead manager for the IPO, said that country’s first-ever IPO of any dedicated general takaful company, has made a historic debut at PSX.

Habib said this reflects investor confidence in Pakistan’s fast-growing takaful sector and PQGTL’s strong market position.

The statement further said proceeds from the IPO will be utilized to fund strategic initiatives, such as investments in software and other intangible assets, hardware and infrastructure, marketing and brand development and human resource enhancement. 

Proceeds will also be used to establish new branches and transform existing ones to improve operational efficiency and customer experience, it added. 

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