Ex-PM Khan’s party calls off Sept. 28 Rawalpindi rally, will hold ‘peaceful protest’ instead 

Activists of Pakistan Tehreek-e-Insaf (PTI) party of former country’s prime minister Imran Khan, take part in a public rally on the outskirts of Islamabad on September 8, 2024. (ADF/File)
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Updated 26 September 2024
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Ex-PM Khan’s party calls off Sept. 28 Rawalpindi rally, will hold ‘peaceful protest’ instead 

  • PTI party has sought permission to organize a rally in Lahore on Oct. 5 from 5-11pm
  • PTI is aiming to hold rallies to build public pressure for Khan’s release from prison 

ISLAMABAD: The opposition Pakistan Tehreek-e-Insaf (PTI) said on Thursday it was canceling a planned rally in the city of Rawalpindi on Sept. 28 on the instructions of party founder and ex-premier Imran Khan, and would hold a peaceful protest instead on the same day.

Following rallies this month in Islamabad and Lahore, the PTI announced this week it would hold public gatherings in Rawalpindi and Lahore on Sept. 28 and Oct. 5 respectively to build pressure for Khan’s release. The ex-PM has been in jail since August last year on multiple charges including corruption, sedition and terrorism. Khan says the cases against him are politically motivated to keep him and his party away from politics. 

“On instructions of founding Chairman PTI, Imran Khan, the Rawalpindi Jalsa on Sept 28th is canceled and there will be a peaceful protest instead,” the PTI party said in a statement on Thursday. “More details will be shared soon.”

The PTI’s last two rallies were not without complications. The Sept. 8 rally in Islamabad was first planned for July and then August but was postponed both times as the party was denied permission to hold it by the district administration which cited security threats and a lack of resources to manage large gatherings. 

After the Islamabad rally, a number of PTI legislators were arrested on charges of violating an agreement on the basis of which permission for the rally was given, including abiding by a time limit and supporters sticking to certain routes to reach the designated venue for the rally on Islamabad’s outskirts. 

Last Saturday’s gathering in Lahore also came to an abrupt end after authorities cut off electricity supply to the venue after the 3-6pm deadline expired. 

Khan’s party says the challenges in holding rallies are part of an over year-long crackdown it has faced since protesters allegedly linked to the party attacked and damaged government and military installations on May 9, 2023, after the former premier’s brief arrest the same day in a land graft case.

Hundreds of PTI followers and leaders were arrested following the riots and many remain behind bars as they await trial. The military, which says Khan and his party were behind the attacks, has also initiated army court trials of at least 103 people accused of involvement in the violence.

Khan, who has been in jail since last August, was ousted from the PM’s office in 2022 in a parliamentary vote of no confidence after what is widely believed to be a falling out with Pakistan’s powerful military, which denies being involved in politics.


Pakistani asset management firm launches Shariah-compliant energy fund amid reforms

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Pakistani asset management firm launches Shariah-compliant energy fund amid reforms

  • Lucky Investments Limited says fund will invest across oil, gas, power and renewables
  • Product targets long-term investors as Pakistan’s energy sector reforms gain traction

KARACHI: A Pakistan-based asset management company on Thursday announced the launch of a Shariah-compliant energy equity fund, seeking to tap growing investor interest in the country’s energy sector as the administration in Islamabad pursues gradual reforms to boost supply, efficiency and sustainability.

Lucky Investments Limited’s initiative comes as Pakistan’s energy sector shows signs of renewed activity, driven by rising demand, policy initiatives and an increasing shift toward renewable sources, even as the country continues to grapple with high costs and supply constraints.

Islamic finance has also expanded steadily in Pakistan, creating demand for sector-focused investment products that comply with religious principles.

The Lucky Islamic Energy Fund (LIEF) will invest primarily in Shariah-compliant, listed energy companies across oil and gas exploration and production, refining, power generation and renewable energy, the company said, with the aim of long-term capital growth.

“The energy sector remains central to Pakistan’s economic revival and long-term sustainability,” Mohammad Shoaib, chief executive officer of Lucky Investments Limited, said, adding the fund would give investors a Shariah-compliant way to participate in the sector while aligning investments with faith-based values.

The open-end fund is benchmarked against the KMI-30 Index, which tracks the 30 largest Shariah-compliant companies listed on the Pakistan Stock Exchange, and is classified as high-risk, making it suitable for investors with a long-term investment horizon.

The fund carries no minimum holding period or redemption penalty.

Lucky Investments said all investments would be overseen by a religious scholar serving as the firm’s Shariah adviser to ensure ongoing compliance with Islamic principles.

The asset manager said it currently manages more than Rs 130 billion ($460 million) in assets under management, positioning it among the fastest-growing asset management companies in the country in 2025.