Pakistan PM condemns Israel’s siege of Khan Yunis leading to large-scale Palestinian displacement

Palestinians displaced by the Israeli air and ground offensive on the Gaza Strip flee from parts of Khan Younis, following an evacuation order by the Israeli army to leave parts of the southern area of Gaza Strip's second largest city, on July 27, 2024. (AP)
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Updated 27 July 2024
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Pakistan PM condemns Israel’s siege of Khan Yunis leading to large-scale Palestinian displacement

  • Israel ordered the evacuation of the city on Monday, causing international displacement affecting over 150,000 people
  • Shehbaz Sharif asks the international community to hold Israel accountable for its ‘war crimes’ and bring it to justice

ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday condemned Israel for besieging the southern Gaza city of Khan Yunis, saying it had uprooted more than 150,000 Palestinians and disrupted food supplies to the area.
The Israeli military ordered the evacuation of parts of the city after announcing on Monday that its military would “forcefully operate” in the area.
The United Nations said a day earlier that the intensified hostilities in Khan Yunis had fueled another wave of internal displacement in Gaza that had affected about 182,000 people.
Israel announced during the week it had recovered the bodies of five captives who had been captured by Hamas on October 7, saying its forces had also killed nearly “100 terrorists.”
“The brutality in Khan Younis has displaced over 150,000 Palestinians,” the prime minister said in a statement released by his office in Islamabad. “The siege of Khan Younis has disrupted the supply of food and other essential items in the area. A humanitarian crisis is unfolding in Palestine.”
The statement said Sharif condemned Israel’s action in Khan Yunis and expressed concern over the situation.
He asked the international community, including the United Nations, to fulfill its responsibilities to end Israel’s military campaign.
“Israeli forces are committing the grave crime of genocide against Palestinians,” he continued. “We reiterate the demand for the implementation of the recent decisions of the International Court of Justice regarding Palestine and the UN resolutions.”
Sharif said his government had sent 1,200 tons of relief goods through six Pakistan Air Force planes and 1,500 tons via three ships to Palestine.
He also highlighted special arrangements made by his country for Palestinian medical students to continue their education in Pakistan.
“The international community should hold Israel accountable for its war crimes and bring it to justice,” he added.
Israel launched its air and ground offensive targeting Gaza last October following a surprise attack by Hamas in which around 1,200 people were killed and more than 250 were taken hostages.
The Palestinian group said its attack was in response to the deteriorating condition of Palestinian people living under occupation.
Israel’s response was widely viewed as disproportionate by the international community in which over 39,000 people, mostly women and children, have died.
Israel was taken to the International Court of Justice (ICJ) by South Africa on the allegation of committing genocide where other nations joined the proceedings as well.

With input from AP
 


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.