Pakistan, May 7 — Amid rising geopolitical tensions with India, the Finance Ministry of Pakistan has reinforced contingency measures to protect financial operations and ensure resilience across the country’s economic institutions. The move follows Indian airstrikes on six sites in Punjab and Azad Jammu and Kashmir, prompting retaliatory action by Pakistan’s military, which downed five Indian fighter jets.
An emergency virtual meeting, chaired by Finance Minister Muhammad Aurangzeb from London, brought together senior officials including the State Bank governor, SECP chairman, and the Finance Secretary. The session focused on assessing financial system vulnerabilities and executing immediate risk management protocols across sectors.
The Finance Ministry reports that communication channels and cybersecurity measures at financial institutions have been bolstered. The objective of these enhancements is to ensure continuous market activities and safeguard investor trust, notably following a brief downturn at the Pakistan Stock Exchange (PSX).
The Securities and Exchange Commission of Pakistan (SECP) convened an urgent gathering with major participants such as the PSX, the National Clearing Company, and the Central Depository Company. In this meeting, the SECP instructed all entities integral to the capital markets to swiftly enhance their cyber defenses, ensure continuous operations, and improve physical safety measures within trading centers.
The Finance Ministry along with SECP calmed both the general public and those involved in the markets, asserting that Pakistan’s financial sector continues to be secure. They mentioned that there will be continuous evaluations to keep track of current changes. Participants were encouraged to carry on their operations normally since officials are prepared to address any new risks that may arise.
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