ISLAMABAD: Pakistan’s security forces killed six militants during an intelligence-based operation in the northwestern district of Bannu, the military said on Friday, amid a spike in attacks in its western provinces bordering Afghanistan.
Authorities blame the Tehreek-e-Taliban Pakistan (TTP), an umbrella group of various militant factions, for much of the violence directed against the civilians and security forces in the area.
Pakistani officials refer to TTP fighters as “khwarij,” a term rooted in early Islamic history used for an extremist sect that declared other Muslims apostates.
“On night 23/24 April 2025, Security Forces conducted an intelligence based operation in Bannu District on reported presence of Khwarij,” the military’s media wing, Inter-Services Public Relations, said in a statement.
“During the conduct of operation, own troops effectively engaged the khwarij location and after an intense fire exchange, six khwarij were sent to hell, while four khwarij got injured,” it added.
The statement informed a “sanitization operation” was underway to eliminate any remaining militants, adding that security forces were determined to eradicate militancy from the country.
Prime Minister Shehbaz Sharif praised the security forces following the raid, acknowledging their professionalism and resolve.
“The nefarious designs of terrorists, who are enemies of humanity, will continue to be crushed,” he said in a separate statement circulated by his office, vowing that Pakistan’s fight against militancy would persist until it was completely eradicated.
Security forces kill six militants in Pakistan’s northwest
https://arab.news/c6tu9
Security forces kill six militants in Pakistan’s northwest
- Four other militants were injured in the intelligence-based operation carried out in Bannu district
- Pakistan PM praises the security forces following the raid, acknowledging their professionalism
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.
