Pakistan financial system stable, secure: FinMin

ISLAMABAD, May 7 (APP): Minister for Finance and Revenue Senator Muhammad Aurangzeb on Wednesday said that Pakistan’s financial system remained stable and secure, and all relevant authorities are working in close coordination to uphold national economic integrity in the face of emerging challenges.
He was chairing an emergency meeting through Zoom to assess the current financial landscape in light of escalating regional tensions following the recent belligerent Indian aggression, said a news release.
The meeting was attended by the Governor State Bank of Pakistan (SBP), Chairman Securities and Exchange Commission of Pakistan (SECP), secretary finance, and senior officials from the finance division.
In a comprehensive and strategic discussion revolving around the situation and functioning of equity, debt, FX and interbank markets, participants conducted a rapid risk assessment and evaluated the current threat perception with an emphasis on ensuring national financial stability and security.
Recognizing the critical importance of market stability, the meeting reaffirmed the government’s firm commitment to maintaining business continuity across all financial and allied sectors.
Key assurances were extended to stakeholders, underscoring that robust measures are being implemented to safeguard Pakistan’s economic infrastructure and provide calm, clarity, and confidence to the financial markets.
The participants also emphasized the importance of heightened vigilance against a wide range of threats, with a special focus on cybersecurity and communication infrastructure.
Contingency plans have been reinforced to ensure operational resilience and secure communication lines across financial institutions.
To maintain proactive oversight, the meeting decided on regular reviews of the evolving situation. These ongoing evaluations will support the government’s efforts to provide consistent guidance and timely reassurance to the financial markets and the wider business community.