KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Friday cautioned local companies about heightened cybersecurity risks, days after a brief but intense conflict with India that, for the first time, saw both nations engage in cyber warfare alongside traditional military exchanges.
The recent hostilities, which included missile and artillery fire, also featured the deployment of drones and coordinated cyberattacks, an unprecedented escalation in the long-standing rivalry between the two nuclear-armed neighbors.
A ceasefire was brokered and announced on May 10, though the digital threat persists.
“The Securities and Exchange Commission of Pakistan (SECP) has issued an advisory to all the companies, in light of the recent geopolitical situation and resultant heightened cybersecurity threat alerts, urging companies to adopt cybersecurity best practices,” the regulator said in a statement.
The advisory outlined potential risks such as operational disruptions, data loss and reputational damage, recommending measures including stricter access controls, vulnerability assessments, incident response planning and user awareness training.
During the conflict with India, Pakistan’s economic affairs ministry and the Karachi Port Trust (KPT) reported that their official X accounts had been compromised.
The KPT account briefly posted claims of significant damage from an Indian naval strike before the post was deleted and the agency stated its account had been hacked.
Pakistani officials also acknowledged launching retaliatory cyber operations targeting Indian government and financial websites.
Indian authorities reported over 1.5 million attempted cyber intrusions during the conflict, primarily attributed to Pakistan-based hacker groups.
The SECP’s advisory highlighted the ongoing digital risks in the aftermath of the ceasefire, urging companies to bolster their cybersecurity defenses to protect critical infrastructure and sensitive data.
Pakistan’s financial regulator alerts firms to cyber risks after conflict with India
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Pakistan’s financial regulator alerts firms to cyber risks after conflict with India
- SECP highlights potential risks including operational disruptions and data loss in its advisory
- Recent India-Pakistan hostilities featured coordinated cyberattacks for the first time in history
Pakistan business body writes to PM seeking ‘clear roadmap’ to spur investment
- Business confidence in Pakistan has fallen sharply amid rising inflation, high energy costs and unpredictable tax environment
- In a letter written to PM Shehbaz Sharif, the Pakistan Business Forum president highlights challenges facing the business community
KARACHI: The Pakistan Business Forum (PBF), a representative body of traders and businesspersons in the country, on Monday urged Prime Minister Shehbaz Sharif’s intervention in outlining a “clear economic roadmap” to promote long-term investment in Pakistan.
Business confidence in Pakistan has fallen sharply amid rising inflation, high energy costs and an unpredictable tax environment. Currency volatility and slowing demand have prompted many firms to delay investments and scale back expansion plans.
In a letter to PM Sharif, PBF President Khawaja Mehboob-ur-Rehman highlighted the challenges facing the business community, including high input costs, soaring energy tariffs and an increasingly “uncompetitive” tax regime that weakens exports.
“Looking ahead to 2026, the Pakistan Business Forum urged the prime minister to provide the business community with a clear, credible, and forward-looking economic roadmap,” read a PBF statement.
“Such clarity... is essential to restore confidence, encourage investment, and enable long-term planning by businesses.”
The South Asian country of more than 241 million people is currently navigating a tricky path to economic recovery under a $7 billion International Monetary Fund (IMF) program since averting a default in 2023.
Besides introducing structural reforms relating to expansion of the country’s tax base and privatization of loss-making entities, the government of PM Sharif says it is taking various measures to boost foreign investment and trade.
The PBF highlighted the business community is ready to play its role in competing with regional markets, if provided with the “necessary competitive tools.” It outlined critical reforms relating to regionally competitive electricity tariffs and corporate tax rates.
An increase in electricity tariffs would put further strain on industries and could lead to widespread downsizing and the closure of industrial units, according to the PBF.
It urged the government to include business representatives in the policymaking process to ensure it understands “on-ground realities.”
