Pakistan confirms this year’s eighth case of mpox virus

A health worker install a poster indicating an isolation ward prepared for mpox patients at the Police and Services hospital in Peshawar on August 20, 2024. (AFP/File)
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Updated 20 December 2024
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Pakistan confirms this year’s eighth case of mpox virus

  • Latest case detected in 32-year-old man with a travel history outside Pakistan
  • Mpox is mild but people with weak immune systems at higher risk of complications

KARACHI: Pakistan’s health ministry on Friday confirmed the country’s eighth case of the mpox virus this year in a patient who had recently returned from travels abroad.

People who contract mpox get flu-like symptoms and pus-filled lesions. Children, pregnant women and people with weakened immune systems are at higher risk of complications from the infection. 

Pakistan confirmed its first mpox case in August and has since implemented screening protocols at all airports and border entry points. 

“The 32-year-old patient has been isolated and treated,” Health Ministry spokesperson Sajid Shah told Arab News. “He is experiencing mild symptoms and is expected to recover soon.”

The spokesman added that the patient had recently returned from traveling in a Gulf country. 

The World Health Organization in August declared a global health emergency over the spread of a new mutated strain of mpox named clade I, which first emerged in the Democratic Republic of Congo and has since spread to several countries, leading to increased monitoring and preventive measures worldwide. 

Pakistan has so far not reported any cases of the new mutation. 


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.