Islamabad: The announcement of the U.S.-Iran peace agreement was lauded by Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, as a significant achievement for both Pakistan and the global economy. Aurangzeb highlighted Pakistan’s meaningful role in the mediation process, underscoring the country’s commitment to promoting regional stability and its dedication to peaceful conflict resolution.
According to Press Information Department, the Finance Minister made these remarks during a virtual address at the “Gong Ceremony – Service Long March Tyres Limited (SLM)” held at the Pakistan Stock Exchange, marking the company’s listing. Aurangzeb attributed the successful mediation efforts to Prime Minister Muhammad Shehbaz Sharif and Field Marshal Syed Asim Munir, who have been recognized for their steadfast efforts in advancing the peace agreement.
Aurangzeb emphasized Pakistan’s proactive engagement in facilitating discussions that de-escalated tensions, which he stated had solidified Pakistan’s reputation as a responsible partner in fostering peace. He also pointed to the forthcoming Memorandum of Understanding as a promising development for Pakistan’s economy and broader regional stability, expressing optimism about mitigating potential economic impacts of the conflict.
While acknowledging that energy infrastructure disruptions would need time to resolve, the Finance Minister noted that the peace agreement has improved economic prospects for the upcoming fiscal year. He also commended the management of the Pakistan Stock Exchange for its robust performance and highlighted a surge in investor participation, particularly among young investors.
Regarding the listing of Service Long March Tyres Limited, Aurangzeb celebrated it as a significant milestone for Pakistan’s financial markets, noting the highest number of Initial Public Offerings in nearly two decades. He praised the project’s success despite the challenges of the COVID period and acknowledged the role of Chinese expertise and investor confidence.
Aurangzeb concluded by reaffirming Pakistan’s commitment to fostering an environment conducive to investment, enhancing capital markets, and expanding international economic partnerships to support sustainable growth.