Private Sector And Capital Formation Vital For Economic Growth: Finance Minister Aurangzeb.
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✧ GENERATE BRIEFING
Speaking at the Pakistan Stock Exchange (PSX) during the formal listing ceremony of the Naya Nazimabad Apartments REIT, Finance Minister Muhammad Aurangzeb emphasized that Pakistan’s future economic trajectory relies fundamentally on robust capital formation, private sector leadership, and sustained productive investments.Highlighting a massive expansion in market confidence with the KSE-100 index climbing significantly and a record 25,281 new investors joining the PSX in September 2026 to push total accounts to 656,218 the minister pointed to alternative asset classes like Real Estate Investment Trusts (REITs) as critical instruments for channeling tyhe domestic savings into housing and urban development. He noted strong public and institutional demand for the offering, which drew the heavy oversubscription, and reiterated the government's commitment to steering the economy away from boom and bust cycles toward export-led, private sector driven growth.
Federal Minister for Finance and Revenue Muhammad Aurangzeb has said Pakistan’s economic progress now depends on sustainable growth, stronger capital formation and greater private-sector investment, as the government seeks to move the economy beyond stabilization.
Speaking at the Pakistan Stock Exchange (PSX) during the listing ceremony of the Naya Nazimabad Apartments REIT, the finance minister noted the remarkable transformation of the equity market, with the KSE-100 index rising from around 67,000 points in March 2024 to about 170,000 points. He underscored that the broader objective must be converting this market confidence into tangible capital for businesses, infrastructure, housing, innovation, and employment.
Surging Investor Participation and Primary Market Activity
Investor participation has expanded exponentially:
- Record Onboarding: A historic 25,281 new investors joined the PSX in September 2026 alone, marking the highest monthly addition recorded and bringing the total investor base to 656,218.
- IPO Momentum: Following 11 company listings through FY2026, another five initial public offerings (IPOs) have already been successfully completed in the first quarter of FY2027.
- REIT Demand: Highlighting the success of alternative asset vehicles, the Naya Nazimabad Apartments REIT witnessed exceptional investor appetite, securing roughly 8 times subscription during book-building and 4.3 times subscription in the general public offering.
Housing Finance and Broad-Based Reforms
Addressing critical infrastructure needs, Aurangzeb reported that approximately Rs60 billion has been financed under the Prime Minister’s Apna Ghar Programme, backed by an additional commercial banking pipeline of ~Rs340 billion awaiting disbursement. He advocated for fast-tracking supply-side housing development via structured REIT vehicles.
The finance minister reiterated the government’s wider reform and development strategy:
- Macroeconomic Transition: The economy has successfully shifted from stabilization toward recovery, targeting a GDP growth rate approaching 4% for the current fiscal year.
- Fiscal & Tax Expansion: Ongoing structural reforms have pushed active tax filers past 5.7 million, up from 3.9 million last year and less than 2 million in 2022.
- Global Engagement: International interest remains robust, with Turkish stakeholders exploring utility privatizations and US capital looking at domestic mining, agriculture, IT, and energy assets.
Aurangzeb concluded by emphasizing that the government’s role remains strictly centered on providing policy continuity and a predictable regulatory framework, leaving the private sector to spearhead enterprise, innovation, and long-term capital creation.
