ISLAMABAD: The government in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province has ordered a probe into the deaths of 10 civilians in a drone attack last week, a provincial government spokesman said on Monday.
Ten bodies, including those of women and children, were recovered from a remote hilltop area of Katlang in KP’s Mardan district, where government officials claimed an anti-militant operation had taken place on Saturday.
The deceased hailed from the Swat region and were nomads with livestock in the Shamozai mountains, according to the locals. Their families protested the deaths by placing the bodies on the Swat Highway.
In a statement issued on Monday, KP government spokesman Muhammad Ali Saif said Chief Minister Ali Amin Gandapur had ordered an investigation into the tragic incident.
“After the facts come to light, the Khyber Pakhtunkhwa government will present its detailed stance in this regard,” he said, citing the chief minister. “The families of the martyrs will not be left alone under any circumstances and they will be provided with full financial assistance.”
CM Gandapur, whose Pakistan Tehreek-e-Insaf (PTI) is the main opposition party in the country that is in power in KP, noted that high-profile “terrorists” had previously been killed in the same area, according to Saif.
Pakistan has struggled to contain a surge in militancy in KP since a fragile truce between the Pakistani Taliban and Islamabad broke down in November 2022. The Pakistani Taliban and other militant groups have frequently targeted security forces convoys and check-posts, besides targeted killings and kidnappings of law enforcers and government officials in recent months.
Islamabad blames the surge in attacks on militants using Afghan territory as a base, particularly the TTP, which Pakistan says enjoys sanctuaries across the border. The Afghan Taliban-led government in Kabul denies this and accuses Pakistan in return of harboring Daesh militants.
Saif also said the federal authorities did not inform the provincial government about Saturday’s operation in advance, demanding a thorough analysis of operational aspects and identification of shortcomings in its execution.
“The provincial government will never allow such actions in the future,” he added.
Northwestern Pakistani province orders probe into civilian deaths in drone attack
https://arab.news/82e74
Northwestern Pakistani province orders probe into civilian deaths in drone attack
- Pakistani security forces carried out the strikes in Mardan district on Saturday, targeting alleged militant hideouts
- The Khyber Pakhtunkhwa provincial administration will never allow such actions in the future, government spokesman says
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.
