ISLAMABAD: In response to heightened regional tensions following India’s missile strikes, Pakistan has significantly strengthened its cybersecurity protocols to safeguard its capital market infrastructure. The decision, made during a high-level meeting at the finance ministry, aims to ensure the continued smooth operation of the country’s financial markets.
The meeting, which included senior officials from the finance ministry, State Bank of Pakistan, and the Securities and Exchange Commission of Pakistan (SECP), focused on rapidly assessing potential risks. The SECP also took proactive steps, blocking overseas access to specific websites to prevent cyber threats.
This move comes just hours before Finance Minister Muhammad Aurangzeb met UK Minister of State for South Asia, Hamish Falconer, in London. During the meeting, the finance minister briefed Falconer on India’s recent attacks on civilians in Pakistan and Azad Jammu and Kashmir, which resulted in 26 deaths. He reiterated Pakistan’s commitment to defending its sovereignty and addressing India’s aggression.
The emergency meeting also involved assessing the stability of Pakistan’s equity, debt, foreign currency, and interbank markets. The finance ministry emphasized the government’s commitment to ensuring business continuity and market stability despite the challenges posed by regional security concerns.
Additionally, the SECP held an emergency meeting to ensure the resilience of capital markets. Measures were put in place to enhance the cybersecurity defenses across all market operations and reinforce physical security at key facilities. The SECP and other capital market infrastructure institutions are closely monitoring the situation to safeguard market integrity and maintain investor confidence.
