Thousands take to streets in Pakistan’s Swat demanding peace after police facility blasts kill 17

People take part in a demonstration a day after twin blasts at a counter-terrorism facility that killed 17 people and injured 68 in Swat, Pakistan, on April 25, 2023. (Photo courtesy: Zia Nasir Yousafzai)
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Updated 25 April 2023
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Thousands take to streets in Pakistan’s Swat demanding peace after police facility blasts kill 17

  • The demonstrators demand knowing who brought Pakistani Taliban fighters back to the scenic valley
  • People of Swat say they would ‘no longer accept the presence of any terrorist in their native towns’

PESHAWAR: Thousands of people on Tuesday held a demonstration in the northwestern Pakistani district of Swat to demand peace and security in the valley, a day after twin blasts at a counter-terrorism facility in killed 17 people and injured 68. 

Monday’s explosions were so powerful that they leveled the counter-terrorism police station in Kabal town of Swat district in the northwestern Khyber Pakhtunkhwa province that borders Afghanistan. 

The incident came amid a renewed wave of militant attacks on police and security forces in Pakistan’s restive northwest, particularly after the Pakistani Taliban, or the outlawed Tehreek-e-Taliban Pakistan (TTP), called off their fragile truce with the government in November last year. 

The demonstration was jointly arranged by Swat Olasi Pasoon, or Swat People’s Movement, and Swat National Council, with thousands of residents and activists participating in it. 

“As [we] witnessed devastation at the police station last night, we have gathered to condemn such kinds of terror acts,” Zia Nasir Yousafzai, a member of the Swat People’s Movement, told Arab News. 




People take part in a demonstration a day after twin blasts at a counter-terrorism facility that killed 17 people and injured 68 in Swat, Pakistan, on April 25, 2023. (Photo courtesy: Zia Nasir Yousafzai)

Yousafzai said the protesters condemned militancy and demanded peace and security. 

“We are here to tell the authorities that the people of Swat have already paid a heavy price and we will not accept the return of those dark days,” he added. 

Yousafzai said the protesters wanted to know who allowed the TTP fighters to return to Swat and once again engage in acts of violence. 

The TTP took partial control of Pakistan’s Swat Valley in 2007 before being ousted two years later in a major military operation hailed as a telling blow to militant violence. During this period, the militants unleashed a reign of terror, killing and beheading politicians, singers, soldiers and opponents. 

Videos of the protest went viral on social media in which demonstrators could be heard chanting “this terrorism is unacceptable” and “these explosions are unacceptable.” 

Officials have blamed Monday’s blasts on a short circuit at the old Counter-Terrorism Department (CTD) building, which housed munitions in its basement. 

Zahid Khan, a senior member of the Swat National Council, said people were planning to hold a mammoth demonstration soon after Eid Al-Fitr, but the “mysterious blasts” at the CTD police station forced them to immediately take to the streets to condemn growing insecurity. 

He said the demonstrators wanted to send a strong message that the people of Swat would no longer accept the presence of any “terrorist” in their towns. 

“We demand a judicial probe to be headed by Justice Qazi Faiz Isa, a senior puisne judge of the Supreme Court of Pakistan, into the CTD police station explosions,” Khan said. 

“At first, the police said it was a suicide attack but later, they said the blasts were triggered munition inside the police facility.” 

The people of Swat have already paid a heavy price and faced deaths, destruction and mass migration, he said, adding now they had decided that no one would be allowed to a create law and order situation or sabotage peace of the scenic valley. 


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.