Islamabad: Acting President Syed Yousaf Raza Gilani today inaugurated the Founders’ Wall at the Islamabad Stock Exchange (ISE) Towers Limited, honoring the pioneers who established the institution. He emphasized the importance of expanding Pakistan’s capital markets, increasing participation, and encouraging the use of equity financing.
According to Senate of Pakistan, Mr. Gilani, who had inaugurated the ISE Tower during his tenure as Prime Minister of Pakistan, acknowledged the efforts of late Ihsan-ul-Haq Piracha. As Minister of State for Finance under Prime Minister Shaheed Mohtarma Benazir Bhutto, Piracha played a crucial role in establishing the Islamabad Stock Exchange in 1989. Mr. Gilani also recognized the first Board of Directors for laying the foundational trading and settlement infrastructure that served Pakistan for over two decades.
During the ceremony, Mr. Gilani stated that the Founders’ Wall honored the institutional memory of Pakistan’s capital markets and acknowledged the vision of those who sought to broaden capital access and integrate the northern regions of Pakistan into the financial mainstream. Reflecting on his past association with the institution, Mr. Gilani recounted laying the foundation stone of the ISE Towers as Prime Minister, viewing Islamabad as a potential hub of economic activity.
He outlined three key priorities for the capital market’s growth: promoting financial literacy, encouraging family-owned businesses and mid-sized enterprises to list on the exchange, and maintaining policy stability supported by strong macroeconomic fundamentals and long-term reforms. Mr. Gilani affirmed Parliament’s commitment to refining capital market legislation, enhancing regulatory frameworks under the SECP, and protecting investor interests.
Emphasizing equitable economic opportunities across provinces, Mr. Gilani congratulated the Pakistan Stock Exchange leadership for their initiative in honoring the ISE’s pioneers, marking it as a sign of a mature institution. The event included a ribbon-cutting ceremony, the unveiling of a plaque, and a briefing by Chairman Haroon Ihsan Piracha, followed by Mr. Gilani’s address to the Board of Directors. Before his remarks, Mr. Gilani extended congratulations on Pakistan Air Force Day.