French agency pledges $55 million for Pakistan’s polio program

A health worker administers polio vaccine drops to a child during a vaccination campaign in Lahore on October 24, 2022. (Photo courtesy: AFP/File)
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Updated 19 March 2023
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French agency pledges $55 million for Pakistan’s polio program

  • Pakistan reported its first poliovirus case on Friday, March 17
  • Pakistan is one of two countries in the world where polio is endemic

ISLAMABAD: The French Development Agency (AFD) on Sunday pledged $55 million to support Pakistan’s efforts to eradicate polio, a statement by the public agency said.

Polio is a highly infectious disease that is caused by the poliovirus, mainly affecting children under the age of five years. It invades the nervous system, and can cause paralysis or even death.

Pakistan reported its first poliovirus case on Friday as the FDA and Bill and Melinda Gates Foundation representatives were in the South Asian country on a week-long visit to analyze its polio eradication efforts.

On Friday, Pakistan reported its first polio case of the year when a three-year-old child from the northwestern Khyber Pakhtunkhwa (KP) province contracted polio. Pakistan and Afghanistan remain the only two countries in the world where the virus is still endemic.

In 2022, Pakistan reported 20 cases of polio, all of them in the KP province. Seventeen cases of the virus were reported in the North Waziristan district while Lakki Marwat and South Waziristan reported one each.

A delegation of the Bill and Melinda Gates Foundation and the AFD met special health secretary at the National Emergency Operations Center (NEOC) in Islamabad to discuss polio eradication efforts, the AFD said.

The AFD committed to supporting the Pakistan Polio Eradication Initiative (PEI) in immunization activities, disease surveillance, polio campaign monitoring and other technical areas, and filling the funding gap of $55 million (under the PC-1 for polio eradication, 2022-2026), the agency confirmed.

“We are very grateful to the French Government for this support,” NEOC Coordinator Dr. Shahzad Baig said. “The Pakistan Polio Eradication Programme is a vital part of our health care system and investing in polio is an investment in the country’s overall health system.”

Pakistan’s anti-polio campaigns are regularly marked by violence as militants often target polio teams and police protecting them, falsely claiming that the vaccination campaigns are a Western conspiracy to sterilize children.

Pakistan launched the first of its two-stage phases to vaccinate over 21.54 million children against polio on March 13. The second phase will be held from April 3 till April 7 – during the second week of Ramadan – to vaccinate more than 4.12 million children in 12 districts of Balochistan.

Meanwhile, 26 districts of Khyber Pakhtunkhwa, including the seven “endemic districts” in the southern region of the province, will also be targeted in the second phase of the campaign.


Pak-Qatar becomes Pakistan’s first dedicated family takaful operator to list on PSX

Updated 01 January 2026
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Pak-Qatar becomes Pakistan’s first dedicated family takaful operator to list on PSX

  • Pak-Qatar Family Takaful Limited’s initial public offering raises $3.2 million, says company
  • Company says remains committed to strengthening Pakistan’s Islamic financial eco-system

KARACHI: The Pak-Qatar Family Takaful Limited (PQFTL) became the first dedicated family Takaful operator to be listed on the Pakistan Stock Exchange (PSX), the company announced on Thursday, saying the development would strengthen the ecosystem for Islamic financial products and services in the stock market. 

PQFTL is the country’s first and largest dedicated shariah-compliant family risk-protection provider, holding 44 percent of the total family takaful market and more than 90 percent of the fully dedicated segment, with a nationwide presence of 73 branches and 1,971 field representatives.

The company announced in a statement last month it would offer 50 million shares, starting at a floor price of Rs14 per share ($0.05), with a ceiling of Rs21 per share ($0.07). Of the total issue, 37.5 million shares will be allocated to institutional investors, while 12.5 million shares will be offered to the general public.

In its latest statement, the PQTFL said the book building and public subscription portions of its Initial Public Offering (IPO) were oversubscribed by 3.2 times and 3.8 times, respectively, reflecting strong investor confidence in the company and Pakistan’s Islamic financial ecosystem.

“The IPO raised Rs901 million [$3.2 million], achieving a 29 percent premium, reflecting strong investor interest and positive market perception,” the statement said. 

“This historic milestone and response from investors underscore PQFTL’s exceptional financial resilience, strategic foresight, and unwavering commitment to Shariah-compliant excellence,” it added. 

The company said over 8,200 investors participated in the IPO, making it one of the highest investor turnouts in Pakistan’s insurance and Takaful sector. 

“The offering attracted a diverse mix of institutional investors, insurance companies, family offices, corporate investors, and a significant number of individual investors,” it said. 

Muhammad Kamran Saleem, a member of the board of directors of the PQFTL, said the company’s listing on the stock exchange was a “historic achievement.”

“The overwhelming response from investors demonstrates deep trust in our business fundamentals, Shariah governance standards and strategic vision,” he said. 

“We are grateful to Allah Almighty for this historic achievement and we remain committed to strengthening the Islamic financial eco-system and long-term sustainable value creation to all our stakeholders.”

PQFTL said the IPO proceeds will help it in meeting regulatory capital requirements, expand digital distribution channels, enhance product innovation and drive customer-centric growth initiatives.