Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Wednesday held a virtual meeting with the Pakistan Banks’ Association (PBA) and senior leadership of major banks to review the evolving economic and financial situation in light of regional developments.
The meeting, attended by PBA Chairman Zafar Masud and presidents of leading banks, focused on ensuring financial stability and uninterrupted banking services through close coordination between the government, the State Bank of Pakistan (SBP) and the banking sector.
The finance minister briefed participants on the government’s monitoring of the situation and steps being taken to assess potential economic implications.
He said a high-level coordination mechanism comprising key economic ministries and relevant institutions had been established to continuously review developments.
The forum is closely examining global market trends, particularly supply chains and energy markets, and assessing their potential impact on Pakistan’s key macroeconomic indicators.
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Aurangzeb said the government was conducting regular scenario analysis to evaluate possible implications for inflation, external accounts and overall economic stability.
He emphasised that authorities remained focused on ensuring continuity of essential supplies and maintaining macroeconomic stability while responding to developments in a timely and prudent manner.
The minister highlighted the importance of coordinated decision-making and appreciated the financial sector’s role in maintaining market confidence and ensuring the smooth functioning of financial markets.
He encouraged banks to continue supporting businesses and customers while maintaining responsible risk management practices and ensuring operational resilience to provide uninterrupted financial services.
Aurangzeb reaffirmed the government’s commitment to maintaining open communication with the banking industry and assured participants that authorities would continue working closely with the SBP and financial institutions to respond to developments in a coordinated manner.
Earlier, PBA Chairman Zafar Masud briefed the minister on the banking sector’s consultations and preparedness measures in response to the evolving situation.
He said the banking industry had reviewed potential implications for financial markets and operational continuity, with a focus on ensuring uninterrupted services for customers and businesses.
Masud added that the industry had established a coordination framework for timely consultation and information sharing among financial institutions and was engaging with key stakeholders to ensure the smooth functioning of financial services and payment infrastructure.
He reaffirmed the banking sector’s commitment to working closely with the government and regulators to support financial market stability and facilitate trade and financial flows.
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