ISLAMABAD: Prime Minister Shehbaz Sharif reiterated Pakistan’s commitment to enhancing collaboration with the International Atomic Energy Agency (IAEA) to maximize nuclear technology for peaceful purposes during his interaction with the top agency official, his office said on Wednesday.
IAEA Director General Rafael Mariano Grossi is visiting Pakistan on a two-day official visit to meet key political leaders, attend seminars and visit a nuclear power generation site.
The United Nations nuclear watchdog, the IAEA, promotes the safe and peaceful use of nuclear technology worldwide. Pakistan has collaborated with the agency since 1957 and operates a civil nuclear power program under IAEA safeguards.
While Pakistan is not a signatory to the Nuclear Non-Proliferation Treaty (NPT), it has voluntary safeguards agreements with the IAEA and actively works to ensure its nuclear facilities comply with international safety standards.
“The PM reaffirmed Pakistan’s dedication to further strengthening its collaboration with the IAEA to harness the full potential of nuclear technology for peaceful purposes,” the PM office said in a statement following Sharif’s meeting with Grossi in Islamabad.
“During the meeting, the peaceful applications of nuclear technology in various sectors including cancer diagnostics and treatment, agriculture, food preservation, water management and industry were discussed.”
It added that Sharif praised the UN nuclear watchdog’s efforts in promoting nuclear energy to combat climate change, highlighting Pakistan’s “productive and mutually beneficial partnership” with the IAEA over the decades.
“With the IAEA’s support, Pakistan has made significant progress in nuclear power generation, industrial development, health care, and agricultural advancements, contributing to the country’s socio-economic growth,” the PM office said.
The statement added that Grossi appreciated Pakistan’s “constructive and longstanding” engagement with the UN nuclear watchdog, saying the IAEA would continue working with Pakistan in the same spirit.
Pakistan, a member of the IAEA Board of Governors, has been advocating for membership in the Nuclear Suppliers Group (NSG), arguing that its nuclear program meets international safeguards standards.
The South Asian country actively participates in IAEA conferences, policy discussions and technical workshops, demonstrating its commitment to the peaceful use of nuclear technology.
Pakistan PM vows to deepen cooperation with IAEA for peaceful nuclear use
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Pakistan PM vows to deepen cooperation with IAEA for peaceful nuclear use
- The top IAEA official Rafael Mariano Grossi is visiting Pakistan on a two-day official visit
- He will meet political leaders, attend seminars and visit a nuclear power generation site
Pakistan’s first non-life Shariah-compliant takaful operator plans share sale in January
- Pak-Qatar General Takaful Limited plans to raise up to $1.5 million through initial public offering
- Institutional investors will get 75% of shares, while the remaining 25% will go to retail investors
KARACHI: Pakistan’s first dedicated non-life Shariah-compliant takaful operator said on Monday it will launch an initial public offering this month, seeking to raise up to Rs 420 million ($1.5 million) as Islamic finance gains traction in the country’s capital markets.
The company, Pak-Qatar General Takaful Limited, said 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% of the shares on offer, while the remaining 25% will be allocated to retail investors.
“Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and book runner for raising funds through the initial public offering,” it announced in a statement.
The book-building process for the offering will take place on Jan. 21-22, it added, with investor registration opening on Jan. 16, while public subscriptions are scheduled for Jan. 28-29.
The offering follows the recent listing of Pak-Qatar Family Takaful Limited, which raised Rs 901 million ($3.23 million) last month in Pakistan’s first Islamic insurance sector IPO, an issue that was oversubscribed several times.
Proceeds from the IPO will be used to strengthen the company’s capital base and support investments in technology, infrastructure and branch expansion, said the statement.
Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.
