Transporters in northwest Pakistan strike over killing of nine people in attack on passenger bus

Transporters have blocked the road in Skardu after a passenger bus was targeted by unidentified militants in the Diamer district of Gilgit-Baltistan, Pakistan on December 3, 2023. (Photo courtesy: GB Tourist Police)
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Updated 03 December 2023
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Transporters in northwest Pakistan strike over killing of nine people in attack on passenger bus

  • The attack took place near the Chilas town of Pakistan’s northern Gilgit-Baltistan region
  • Pakistani Taliban distance themselves from the attack, no other group claims responsibility

KHAPLU, Gilgit-Baltistan: Transporters across Pakistan’s northern Gilgit-Baltistan region on Sunday observed a wheel-jam strike after a passenger bus was targeted by unidentified militants near the Chilas town, killing nine people and injuring 25 others a day earlier. 
Chilas, a rugged, mountainous town, lies in GB’s Diamer district, which has been a site of militant attacks, including some claimed by the Pakistani Taliban. In 2018, militants torched 13 girls’ schools in the district, while in 2012, unidentified gunmen killed nine passengers and torched six buses in the region. 
However, the Pakistani Taliban distanced themselves from Saturday’s attack, while no group immediately claimed responsibility for targeting the passenger bus that was en route to Rawalpindi from Gilgit. Officials said they were investigating the attack. 
“All transporters are on strike today after this tragic incident in all districts of Gilgit-Baltistan,” Ashraf Al-Hussaini, president of the GB transporters association, told Arab News. 
“This is not the first incident in this region. We had to face such incidents in the past as well in which many people were killed.” 




Law enforcement officers stand next to a damaged bus that came under attack by unidentified militants in the Diamer district of Gilgit-Baltistan, Pakistan on December 2, 2023. (Photo courtesy: Facebook/Pamir Times)

He urged the government to increase patrolling of law enforcement agencies and set up security check-posts along a section of the Karakoram Highway passing through the district. 
Hussaini said their strike was only for Sunday and they would announce their next move soon. 
GB Information Minister Iman Shah said law enforcement authorities were investigating the attack and trying to ascertain the motive behind it. 
“Treatment of the injured people is ongoing and bodies of the deceased are being shifted to their native towns and villages,” Shah told Arab News over the phone. “No one has yet claimed the responsibility for the attack.” 
Diamer Superintendent of Police (SP) Sheheryar Khan said unidentified militants opened fire on the bus in the Chilas-Hudur region at around 6:30pm on Saturday. 
Arif Ahmed, the Diamer deputy commissioner, said some of the passengers hailed from the northwestern Khyber Pakhtunkhwa and southern Sindh provinces. 
“Two Pakistan Army soldiers were among the people martyred in the attack,” he told reporters. 
In a text message to Arab News, the Pakistani Taliban distanced themselves from the attack. 
“Tehreek-e-Taliban has nothing to do with the firing incident on a bus in Gilgit-Baltistan’s Chilas area,” said Muhammad Khurasani, a spokesperson for the group.


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.