Pakistan’s UN envoy calls for International Peace Conference to end Israeli aggression in Palestine

Pakistan’s top diplomat at the United Nations Munir Akram is addressing a UN session in New York, US, on March 4, 2024. (UN YouTube)
Short Url
Updated 05 March 2024
Follow

Pakistan’s UN envoy calls for International Peace Conference to end Israeli aggression in Palestine

  • Pakistan’s top UN diplomat Munir Akram warns of mass starvation in war-ravaged Gaza
  • Israeli defense forces have killed over 30,000 Palestinians in Gaza since October last year

ISLAMABAD: Pakistan’s top diplomat at the United Nations on Tuesday called for an International Peace Conference on Palestine to halt Israeli aggression in Gaza, saying that the conference’s aim should be to demand implementation on the UN’s resolutions that seek a two-state solution in the Middle East. 

The development takes place amid the latest push for peace in Gaza, as envoys from Qatar, Egypt, and the United States hold talks with Hamas to end hostilities in the Middle East. Israel has so far not taken part in the discussions. 

Israel’s war in Gaza since October last year has killed over 30,000 Palestinians, which includes women, children and the elderly. The Jewish state has ignored angry calls from Muslim countries around the world, the UN and peace activists, to halt military offensives in Palestine. 

Ambassador Munir Akram, Pakistan’s permanent representative to the United Nations, urged the international community to uphold its responsibility in ending Israeli aggression “immediately.” Akram was addressing the 193-member UN General Assembly as the acting chair of the Organization of Islamic Cooperation (OIC) at the UN. 

“Pakistan, speaking on behalf of the Islamic countries, has called for convening an International Peace Conference on Palestine, aimed at implementing UN resolutions on the restoration of Palestinians’ inalienable rights to self-determination within a two-state solution,” the state-run Associated Press of Pakistan (APP) said in a report. 

Akram deeply regretted the US decision to veto a UN Security Council resolution last month that demanded a ceasefire in the Middle East, saying that the world has followed the “monumental and unending” sufferings of the people of Palestine since last year. 

“This situation has resulted in the colossal loss of lives and wanton destruction of homes, schools, hospitals and religious sites in Gaza, due to the incessant attacks by the Israeli occupying power on the territory,” he said. 

The Pakistani ambassador said there was an imminent threat of mass starvation in Gaza, which he said was caused by inadequate food supplies and essential services for Palestinians living in the densely populated territory. 

“Notwithstanding the foregoing efforts by the various actors within the United Nations as well as members of the international community, there are ominous signs of even greater dangers ahead,” he noted. 

Pakistan does not have diplomatic relations with Israel. The South Asian country has consistently accused Israel of genocide and called for an independent Palestinian state based on the pre-1967 borders with Jerusalem as its capital. 


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

Updated 22 January 2026
Follow

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.