Service Long March Tyres lists at PSX as FY26 records 11 IPOs

ISLAMABAD: Service Long March Tyres Limited began trading at the Pakistan Stock Exchange on Monday, becoming the 11th initial public offering of the current fiscal year, the highest annual tally in nearly two decades.

Federal Minister for Finance and Revenue Muhammad Aurangzeb addressed the gong ceremony virtually and said investor willingness to put money into a market was the clearest indication of confidence in an economy. He said increased activity at the exchange showed rising confidence in Pakistan’s economic trajectory.

Aurangzeb said he had been associated with the venture since its early phase and described it as an example of industrial collaboration and investment geared towards exports. He commended the completion of the project during the height of the Covid-19 pandemic and acknowledged the role of Chinese expertise as well as investors’ continuing confidence in Pakistan.

Minister links market sentiment to wider economic outlook

Speaking about regional developments, the finance minister described the announcement of the US-Iran peace agreement as a proud moment for Pakistan and an important development for the global economy. He said the agreement reflected the success of diplomatic efforts intended to advance peace and stability in the region.

Aurangzeb said Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir were continuing to receive recognition for what he called their persistent and dedicated mediation efforts that contributed to the process reaching a successful outcome.

Referring to the prime minister’s announcement about the signing of a Memorandum of Understanding later this week, the minister said the move would carry positive implications for Pakistan’s economy and for wider regional stability.

He said Pakistan had managed the first-order economic effects of the conflict over the past three months and expressed confidence that the agreement would reduce worries about possible secondary and tertiary consequences for the economy. While noting that disruptions to energy infrastructure would need time to fully stabilise, he said the agreement had improved the outlook for economic activity and created encouraging upside potential for the next fiscal year.

Focus on investors and capital markets

The finance minister also pointed to rising participation by investors, particularly younger entrants to the market. He said Pakistan remained committed to fostering an enabling climate for investment, deepening capital markets and broadening international economic partnerships in support of sustainable growth and long-term prosperity.

He said the listing of Service Long March Tyres represented another milestone for Pakistan’s financial markets. With 11 IPOs recorded in the current fiscal year, the country has seen its strongest such showing in almost 20 years.