Pakistan condemns fresh Israeli strikes killing hundreds of Palestinians in Gaza

People walk amid the rubble of a building destroyed in an overnight Israeli strike in Jabalia, in the northern Gaza Strip on March 18, 2025. (AFP)
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Updated 18 March 2025
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Pakistan condemns fresh Israeli strikes killing hundreds of Palestinians in Gaza

  • The surprise bombardment threatened to wreck the ceasefire in place since January and fully reignite the 17-month-old war
  • Islamabad urges international community to end violence, resume diplomatic efforts for lasting peace in Gaza and Middle East

ISLAMABAD: Pakistan condemns fresh Israeli strikes on Gaza that have killed hundreds of people and threatened a ceasefire with Hamas, the Pakistani foreign office said on Tuesday, expressing fears about renewed regional instability.
Israel launched airstrikes across the Gaza Strip early Tuesday that killed more than 300 Palestinians, including women and children, according to hospital officials.
The surprise bombardment threatened to wreck the ceasefire in place since January and fully reignite the 17-month-old war, with Israeli officials saying the operation was expected to expand.
Pakistan’s Foreign Office condemned the strikes as a “horrific act of aggression” in the holy month of Ramadan and called it a flagrant violation of the ceasefire agreement.
“This horrific act of aggression, in the holy month of Ramadan, is a flagrant violation of the ceasefire agreement and marks a dangerous escalation that threatens to destabilize the entire region once again,” it said in a statement.
The surprise attack shattered a period of relative calm during the Muslim holy month of Ramadan and raised the prospect of a full return to fighting in a 17-month war that has killed tens of thousands of Palestinians and caused widespread destruction across Gaza. It also raised questions about the fate of the roughly two dozen Israeli hostages held by Hamas who are believed to still be alive.
Prime Minister Benjamin Netanyahu said he ordered the strikes because of a lack of progress in talks to extend the ceasefire. The White House said it had been consulted and voiced support for Israel’s actions.
A senior Hamas official said Netanyahu’s decision to resume the war amounts to a “death sentence” for the remaining hostages. Izzat Al-Risheq accused Netanyahu of launching the strikes to try and save his far-right governing coalition and called on mediators to “reveal facts” on who broke the truce.
“We urge the international community to play it’s role to immediately end the violence and resume diplomatic efforts toward an immediate and lasting peace in Gaza and the Middle East,” the Pakistani foreign office said.
Israel’s war on Gaza began after Hamas’ attack on southern Israel on Oct.7, 2023, which killed 1,200 people and over 200 others were taken into Gaza as hostages. The subsequent Israeli campaign killed around 50,000 Palestinians and displaced almost all of Gaza’s 2 million population, leaving the territory a wasteland.
Both sides agreed to an uneasy, six-week truce on Jan. 19 which paved the way for the release of hostages from both sides.


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.