Finance Minister Muhammad Aurangzeb convened an emergency meeting on Wednesday to assess the current financial landscape in light of escalating regional tensions, “following the recent belligerent Indian aggression”.
According to a statement released by the Finance Division, the meeting was attended by the Governor of the State Bank of Pakistan (SBP), Chairman of the 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,” the statement said.
The meeting comes after the heaviest fighting in more than two decades has erupted between the two nuclear-armed neighbours, with shelling and gunfire over the frontier in Kashmir and India striking targets inside Pakistan.
Pakistan Defence Minister Khawaja Asif had earlier told Bloomberg that five Indian jets had been downed by Pakistan.
At least 26 Pakistanis were martyred and 45 were injured in Indian missile attacks inside Pakistan at six locations, DG ISPR said.
The ISPR spokesperson said Indian missiles were launched at sites including Bahawalpur, Kotli and Muzaffarabad cities, while it also attacked the Neelum-Jhelum Hydropower Project.
During the meeting, the participants, while recognising the critical importance of market stability, 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 emphasised the importance of heightened vigilance against a wide range of threats, with a special focus on cybersecurity and communication infrastructure,” the Finance Division said.
The meeting was informed that contingency plans have been reinforced to ensure operational resilience and secure communication lines across financial institutions. It was also decided that regular reviews of the evolving situation will be held to provide guidance and reassurance to the financial markets and the wider business community.
During the meeting, Aurangzeb reiterated that Pakistan’s financial system remains stable and secure, and that all relevant authorities are working in close coordination to uphold national economic integrity in the face of emerging challenges.
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