At SCO, Pakistan demands Gaza ceasefire, reaffirms support for CPEC expansion

The screengrab taken from the press conference of Pakistan’s Ministry of Foreign Affairs shows the foreign office’s spokesperson Shafqat Ali Khan addressing the weekly media briefing in Islamabad on September 5, 2025. (MOFA)
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Updated 05 September 2025
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At SCO, Pakistan demands Gaza ceasefire, reaffirms support for CPEC expansion

  • The development comes as Israeli troops operate in parts of Gaza City to take over all of it
  • Sharif, who was in China this week, held talks with Chinese leadership, oversaw several deals

ISLAMABAD: Pakistan condemned Israel’s ongoing military offensive against the Palestinians and called for an immediate ceasefire in Gaza at the Shanghai Cooperation Organization’s (SCO) heads of state meeting in China this week, the Pakistani foreign office said on Friday, with Prime Minister Shehbaz Sharif reaffirming his support for the next phase of the China-Pakistan Economic Corridor (CPEC).

Israeli troops have lately been operating in parts of Gaza City as they plan to take over all of the most populous Palestinian city that is home to around a million people many of whom have already been displaced multiple times.

On Thursday, Israeli strikes killed 28 people as the death toll from Israel’s two-year war rose to 64,000, according to Palestinian health officials. Last month, the Integrated Food Security Phase Classification (IPC) system said Gaza City was officially in famine, with around 514,000 people experiencing it.

Pakistan, which does not have diplomatic relations with Israel, has consistently condemned Israel’s war on Gaza, called for an uninterrupted flow of humanitarian aid into Palestinian territory and the establishment of an independent, sovereign and contiguous

Palestinian state based on pre-1967 borders with East Jerusalem as its capital.

“At the SCO CHS summit, the Prime Minister Sharif presented Pakistan’s perspective on pressing regional and global issues, highlighting strategies to strengthen SCO’s role in fostering regional cooperation and stability,” Shafqat Ali Khan, a Pakistani foreign office spokesman, said at a weekly press briefing in Islamabad.

“The prime minister unequivocally denounced Israel’s inhuman military offensive against Gaza and called for an immediate and unconditional ceasefire.”

The foreign office spokesman said PM Sharif, during his visit to China to attend the SCO summit, held meetings with Chinese President Xi Jinping and Premier Li Qiang, and appreciated Beijing’s support to Pakistan’s socio-economic development.

“He lauded the significance of China-Pakistan Economic Corridor as a flagship project of President Xi Jinping’s Belt and Road Initiative, and reaffirmed the desire to continue working closely with China for the successful implementation of the next phase of upgraded CPEC with its five new corridors,” Khan said.

“This would help both countries to build an even stronger Pakistan-China community with a shared future.”

China is a key strategic ally of Pakistan, with Beijing pouring in tens of billions in energy and infrastructure development projects in the South Asian country under CPEC.

The second phase of CPEC focuses on growth, livelihood and innovation, and reinforcement of Pakistan’s national development framework centered on ‘5 Es,’ representing exports, e-Pakistan, energy, environment and equity.

On Thursday, both countries also signed 21 memorandums of understanding and joint ventures worth $4.2 billion to enhance business-to-business (B2B) cooperation in diverse areas, Pakistani state media reported.


Pakistan’s Pak-Qatar Family Takaful to raise $3.9 million in Islamic insurance IPO

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Pakistan’s Pak-Qatar Family Takaful to raise $3.9 million in Islamic insurance IPO

  • Company to offer 50 million shares with a price band of $0.05–0.07 per share
  • Proceeds to support capital needs, digital expansion, new customer-focused products

ISLAMABAD: Pak-Qatar Family Takaful Limited, Pakistan’s largest dedicated Islamic insurance provider, will launch an initial public offering this month to raise about Rs1.1 billion ($3.9 million), with book-building scheduled for Dec. 11–12 and registration opening Dec. 8, the company said in a statement on Friday.

The offer will make Pak-Qatar the first dedicated family takaful operator to list on the Pakistan Stock Exchange, marking a notable development for the country’s insurance landscape, where penetration remains low by global standards. The IPO comes as the company looks to scale operations, strengthen technology channels and widen product distribution in a market where Shariah-compliant savings and protection instruments have grown steadily.

“Pak Qatar Family Takaful Limited is all set to list itself at Pakistan Stock Exchange through an IPO with registration starting 08th December. Through this IPO PQFTL is aiming to raise approx. Rs. 1.1 billion,” the statement said.

The company will offer 50 million shares, starting at a floor price of Rs14 per share ($0.05), with a ceiling of Rs21 per share ($0.07). Of the total issue, 37.5 million shares will be allocated to institutional investors, while 12.5 million shares will be offered to the general public.

Lead manager Shahid Ali Habib of Arif Habib Ltd. said investor response has been strong as the offering represents a sector first. According to the statement, proceeds will be used to meet capital requirements, develop new products and accelerate digital outreach.

Pak-Qatar Family Takaful is the country’s first and largest dedicated shariah-compliant family risk-protection provider, holding 44 percent of the total family takaful market and more than 90 percent of the fully dedicated segment, with a nationwide presence of 73 branches and 1,971 field representatives.

Despite Pakistan’s population size, insurance penetration stood at just 0.7 percent in 2024, the company noted, adding that rising awareness and economic shifts leave room for growth compared with advanced markets where penetration has crossed 10%.