‘Khan-tastic’: Pakistan’s under-fire spinner takes consecutive four-fers in Lanka Premier League 

Pakistani all-rounder Shadab Khan gives post-match interview after Colombo Strikers v Kandy Falcons match in Lanka Premier League on July 2, 2024. (Screengrab/SriLankaCricket)
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Updated 04 July 2024
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‘Khan-tastic’: Pakistan’s under-fire spinner takes consecutive four-fers in Lanka Premier League 

  • Pakistani spinner Shadad Khan takes 4-22, 4-21 figures against Galle Titans, Kandy in Lankan Premier League matches
  • Khan has been under fire for lackluster bowling performances over past year-and-a-half, especially in ICC tournaments

ISLAMABAD: After a string of lackluster performances in the recently concluded T20 World Cup, Pakistan’s under-fire leg-spinner Shadab Khan notched two consecutive four-fers in the ongoing Lanka Premier League tournament this week. 

Cricket analysts and critics have questioned skipper Babar Azam’s decision to include Khan regularly in Pakistan’s playing XI squad, especially in red-ball cricket formats, despite his abysmal performances with the ball in the past year-and-a-half. 

Khan, who was once regarded as a top-all-rounder for Pakistan, has conceded expensive runs and failed to perform with the bat as well over the past couple of matches for Pakistan. However, Khan returned figures of 4-22 and 4-21 for the Colombo Strikers— the franchise he plays for in the Lanka Premier League— in their last two consecutive matches against the Galle Titans and Kandy on Wednesday and Tuesday, respectively. 

“Khan-tastic,” the Strikers wrote on their social media platform, featuring a picture of the Pakistani leg-spinner. “Picking up from where he left last night.”

However, Khan’s 4-21 failed to deliver the Strikers the win as they lost to the Titans by seven runs in a thriller, courtesy of a fiery half-century by Niroshan Dickwells. On Tuesday against Kandy, Khan’s 4-21 figures were instrumental in the Strikers picking up a comfortable 51-run victory over their opponents. 

Angry cricket fans and commentators have demanded the Pakistan Cricket Board (PCB) take drastic measures to improve the national squad’s performance after Pakistan’s dismal performance in the T20 World Cup last month. 

The South Asian country lost to minnows USA in their tournament opener and later to India, forcing them to crash out of the tournament in the first round. This was Pakistan’s second dismal performance within the last 12 months in an ICC tournament, as the green shirts failed to perform up to the mark in the 50-over ICC World Cup in India last year. Azam’s side lost to India, Australia, Afghanistan, South Africa and England, which meant Pakistan failed to qualify for the semifinal stages of the tournament. 

PCB Chairman Mohsin Naqvi told reporters last month he would perform a “surgery” to improve the team’s performance. However, he has so far not announced any major decisions related to the cricket team. 


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.