Karachi (HRNW)- Federal Finance Minister Muhammad Aurangzeb has said that there is no stock market in the world like the Pakistan Stock Exchange (PSX), highlighting growing investor confidence and expectations of further economic improvement in the country.
Addressing the gong ceremony at the Pakistan Stock Exchange via video link, the Finance Minister said that the federal budget has been presented and is currently under discussion in Parliament. He stated that the budget reflects the government’s roadmap for achieving sustainable economic growth and has received a positive response from various sectors.
Muhammad Aurangzeb said that expectations for economic improvement in the coming fiscal year are increasing and that investor confidence is clearly visible in the activities of the Pakistan Stock Exchange. He noted that projects such as Service Long March Tires continued to grow even during the economic pressures caused by the COVID-19 pandemic.
The Finance Minister said that following the Prime Minister’s visit to China, the China-Pakistan Economic Corridor (CPEC) has increasingly moved toward a business-to-business (B2B) model, resulting in stronger commercial ties between Pakistani and Chinese companies.
He also termed Pakistan’s role in facilitating the reported Iran-US ceasefire efforts a matter of national pride, stating that both sides had confidence in Pakistan’s leadership. According to him, Pakistan has been engaged in diplomatic efforts related to the agreement for the past three months.
Speaking at the ceremony, Pakistan Stock Exchange Chief Executive Officer Farrukh Sabzwari said that despite economic challenges, the government had presented a positive budget and provided relief measures, including the abolition of the super tax. He added that recent developments in global markets had created new opportunities for investors.
Sabzwari further stated that the listing of new companies would open additional avenues for Chinese investors and joint ventures, while a significant number of new PSX accounts had been opened by members of Generation Z during the year.
Meanwhile, Service Long March CEO Omar Saeed said that few companies in Pakistan have successfully combined family values with professional management. He noted that the combined market capitalization of Service Industries, Service Long March (SLM), and Service Global has exceeded $1 billion, reflecting the group’s continued growth and contribution to Pakistan’s business sector.
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