Pakistan defense minister says ex-spymaster Faiz Hameed involved in ‘political’ events post-retirement

In this file photo, Pakistan's Foreign Minister Khawaja Muhammad Asif speaks during a joint press conference with China's Foreign Minister Wang Yi and Afghanistan's Foreign Minister Salahuddin Rabbani after the first China-Afghanistan-Pakistan Foreign Ministers' Dialogue in Beijing on Dec. 26, 2017. (AFP/File)
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Updated 13 August 2024
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Pakistan defense minister says ex-spymaster Faiz Hameed involved in ‘political’ events post-retirement

  • Pakistan army has arrested, started court martial of Hameed on extortion, land grabbing allegations leveled by housing society’s owner
  • Defense minister says the former DG ISI may have acted as a “strategic adviser” during May 9 riots by alleged supporters of ex-PM Khan

ISLAMABAD: Pakistani Defense Minister Khawaja Asif has said former spymaster Lt. Gen. (retired) Faiz Hameed was involved in political events after his retirement, hours after the military announced it had arrested him and initiated court martial proceedings.

The Pakistan army’s media wing said on Monday the military had held a detailed inquiry against Hameed, a former chief of Pakistan’s premier Inter-Services Intelligence (ISI) spy agency, in compliance with the orders of the Supreme Court on a petition filed by the management of the Top City housing society, which alleged extortion and land grabbing, among other charges, saying the ex-DG ISI had “misused” his office. 

The army said other than the Top City case, multiple instances of violation of the Pakistan Army Act post-retirement had also been established against Hameed.

Speaking on the matter to Geo News on Tuesday night, Defense Minister Asif said the former general was interfering in politics after his retirement from the army in December 2022.

“General Faiz was definitely involved in the events that took place in the political scene post his retirement,” Asif told a private news channel on Monday night. 

When asked about reports that Hameed was involved in May 9 riots last year by supporters of former Prime Minister Imran Khan, the minister said it was a possibility. 

“He might have provided a little bit of logistics and provided his experience of conspiracies and may have defined targets [for protesters] to inflict maximum damage,” Asif said. “You can say he might have had the role of a strategic adviser in the May 9 [attacks]. I can’t say with certainty, but the events and circumstances point toward him.”

Alleged supporters of ex-PM Khan’s Pakistan Tehreek-e-Insaf (PTI) party attacked and damaged government and military installations on May 9, 2023, after his brief arrest that day in a graft case. The attacks took place a little over a year after Khan fell out with Pakistan’s powerful military, blaming the institution for colluding with his rivals to oust him from office in a parliamentary vote in April 2022. The military rejects the allegations.

Hundreds of PTI workers and leaders were arrested following the May 9 riots and some continue to remain behind bars as they await trial. The military has also initiated army court trials of at least 103 people accused of involvement in the violence. 

Throughout his tenure as DG ISI from June 2019 till October 2021, Hameed was widely seen as being close to then prime minister Imran Khan, who has been in jail since August 2023 on a slew of charges that he says are politically motivated. Many of Khan’s closest associates are in jail or have left his party since last year. 

In the past, Hameed was also accused by the ruling Pakistan Muslim League-Nawaz (PML-N) party of Prime Minister Shehbaz Sharif of bringing down the government of his elder brother, Nawaz Sharif, in 2017. The PML-N alleges Hameed worked with then opposition leader Khan to plot Nawaz’s ouster through a series of court cases, culminating in the Supreme Court’s disqualifying of him from office in 2017 for failing to disclose income and ordering a criminal investigation into his family over corruption allegations.

Investigations against senior officers of the all-powerful army are extremely rare in Pakistan, where the military has ruled for almost half of the country’s history and wields extraordinary power even during periods of civilian rule.

Last month, a retired army officer, Lt. Col. Akbar Hussain, was convicted and sentenced to 14 years in prison for “inciting sedition among army personnel,” according to the Pakistani military.


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.