Pakistan issues safety guidelines for rains during Eid after 25 killed earlier this month

Commuters make their way amid rain showers in Karachi on June 15, 2023. (AFP/File)
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Updated 28 June 2023
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Pakistan issues safety guidelines for rains during Eid after 25 killed earlier this month

  • Pakistan’s Met Office has forecasted heavy rains in central, upper parts of country during Eid holiday
  • Heavy monsoon rains caused devastating flash floods Pakistan last year, killing at least 1,700 

ISLAMABAD: The provincial disaster management authority in Pakistan’s Khyber Pakhtunkhwa province issued safety guidelines on Wednesday ahead of pre-monsoon rains expected during the Eid holidays, after at least 25 people were killed in rain-related accidents earlier this month.

On June 22, the Pakistan Meteorological Department said heavy showers could lead to urban flooding and landslides in the central and upper parts of the country during Eid Al-Adha, which falls on Thursday in Pakistan.

“In view of the more pre-monsoon rains during the Eid holidays, guidelines have been issued for the concerned institutions and district administration,” a notification from the KP Provincial Disaster Management Authority (PDMA) said on Wednesday.

“To avoid rain-related accidents, people should avoid standing near electric or telephone poles (pylons) during thunderstorms and stay away from seasonal drains (dry streams), bridges, and drainage canals. They should not attempt to cross them during the rain.”

The notification cautioned people to avoid using or crossing roads with high flow of water and advised travelers and tourists planning trips to the country’s north to be mindful of the country’s weather advisory.

“The district administration should share the information of untoward incidents with all concerned institutions in a timely manner, while the civil defense and rescue services (Rescue 1122 and fire brigade) should be on alert,” the notification said, adding that authorities concerned should ensure the availability of emergency response personnel and equipment during the forecast and issue warnings to people living near landslide-prone areas to take extra precautions.

The notification also advised residents and authorities to dispose of the offal of sacrificial animals in properly designated areas so drainage systems would not get blocked. 

Heavy monsoon rains caused devastating flash floods across Pakistan last year, killing at least 1,700 people, displacing millions, and causing damages worth $30 billion, according to government estimates.
 


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

Updated 22 January 2026
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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.