Save Our Pak
Islamabad: Service Long March Tyres Limited (SLM) officially became part of the Pakistan Stock Exchange (PSX) on Monday during a formal listing ceremony, adding another company to the exchange’s growing list of new entrants in the current fiscal year.
Addressing the virtual Gong Ceremony, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb highlighted the significance of the recently announced US-Iran peace agreement. He described the development as a positive step for regional stability and the global economy, while also calling it a proud moment for Pakistan.
According to the Ministry of Finance, the minister noted that Pakistan’s leadership had earned recognition from both the United States and Iran for its role in supporting dialogue and fostering mutual trust between the two sides.
Speaking about Pakistan’s capital markets, Aurangzeb congratulated the PSX management and its board for their achievements, pointing to increased investor participation, particularly among younger investors. He emphasized that SLM’s listing marks another important milestone, noting that the current fiscal year has witnessed 11 Initial Public Offerings (IPOs), the highest number recorded in nearly 20 years.
The finance minister said this trend reflects growing investor confidence in Pakistan’s economic policies and future prospects.
Discussing SLM’s journey, Aurangzeb recalled his association with the project from its early stages and described it as a successful example of industrial collaboration and export-focused investment. He praised the company for completing its development during the challenging COVID-19 period and acknowledged the contribution of Chinese expertise and sustained investor support.
The minister also credited Prime Minister Muhammad Shehbaz Sharif and Field Marshal Syed Asim Munir for their continued efforts in facilitating dialogue, which he said played an important role in achieving the peace agreement.
He stated that Pakistan’s contribution to promoting negotiations and reducing tensions has enhanced the country’s reputation as a constructive partner for regional peace and stability, while demonstrating its commitment to diplomacy and peaceful conflict resolution.
Referring to the Prime Minister’s announcement regarding the signing of a Memorandum of Understanding (MoU) later this week, Aurangzeb said the development carries positive implications for both Pakistan’s economy and the wider region.
He explained that Pakistan had successfully managed the immediate economic effects of the conflict over the past three months and expressed optimism that the agreement would help reduce concerns related to longer-term economic consequences.
While acknowledging that disruptions in the energy sector may require time to fully recover, the minister said the peace agreement has created a more favorable outlook for economic growth and business activity in the coming fiscal year.
Concluding his remarks, Aurangzeb reaffirmed the government’s commitment to improving the investment climate, strengthening capital markets, and expanding international economic partnerships to ensure sustainable economic growth.
Reported by Save Our Pak
