KARACHI: Sindh Minister for Finance Syed Murad Ali Shah has said that efforts are being made to present a development-oriented provincial budget for the year 2015-16 and to improve the service delivery in the province.
While talking to journalists after launching of Dolmen City Real Estate Investment Trust (REIT) at Karachi Stock Exchange (KSE) here on Monday, he said that their focus would be on the maintenance of available assets and to provide the people of the province with better service delivery.
He said that the scope of the provincial budget remained limited.
Speaking on RIET, he said that this instrument would open the new avenues for small investors who have at least Rs 5000 in hands for investment.
Murad hoped that this instrument would make its place like other instruments that had developed at KSE for 10 to 15 years.
He said flow of the small investors will further enhance value of the KSE.
Chief Executive Officer (CEO), Arif Habib Group, Arif Habib said that REIT is the first instrument not only of Pakistan but also the sub-continent which had been launched today.
He said that the launch of the instrument was the real milestone in the history of the country. The purpose of the instrument was to promote Real Estate Industry in the country, he added.
Arif said through this, small investors were being given opportunity to do business in this Industry.
REIT instrument had already been introduced around 40 countries of the world, he noted, adding that government had also provided many incentives in regard to grab this opportunity.
