Federal Minister Ishaq Dar virtually addressed a ceremony to mark the first listing of the Developmental Real Estate Investment Trust (REIT) on Pakistan Stock Exchange.

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Islamabad: Federal Minister for Finance & Revenue Senator Mohammad Ishaq Dar virtually joined and addressed a Ceremony to mark the first listing of a developmental REIT (Globe Residency REIT) on Pakistan Stock Exchange, today.

Dr. Shamshad Akhtar Chairperson Pakistan Stock Exchange, Mr. Farrukh H. Khan CEO Pakistan Stock Exchange, Mr. Akif Saeed Chairman SECP, and Mr. Arif Habib Chairman Arif Habib Group of Companies participated in the ceremony.

Finance Minister Senator Ishaq Dar extended felicitations to Mr. Arif Habib and his team for their success upon the oversubscription of their REIT. He highlighted the need to consolidate the Stock market of the country during the challenging economic circumstances and emphasized the concerned authorities not to let rumors create uncertainty in the capital markets.

He also stressed upon the role of SECP as a contributor to the financial and economic development in Pakistan by restoring and maintaining the confidence of domestic as well as foreign investors. Appreciating the proposals presented by Chairman SECP Mr Akif Saeed for improvements and reforms in corporate sector, the Finance Minister emphasized SECP to play its active role as a regulator of corporate sector and further extended his support to SECP for the economic progress and development of the country.

In conclusion, he assured the participants that Pakistan despite economic challenges is destined to progress and development. He promised to ensure a conducive economic environment to attract more companies and investments in Pakistan and put the country’s economy on a positive trajectory soon.