KARACHI: Federal Finance and Revenue Minister and Senator Muhammad Aurangzeb on Tuesday emphasized the significant signs of macroeconomic recovery in the national economy, saying that we are witnessing positive momentum that must be sustained for long-term economic stability.
The finance minister shared these insights while addressing the launch of Electronic Mortgage Register by the Securities and Exchange Commission of Pakistan (SECP) and later spoke to media representatives.
The SECP’s new unified digital mortgage servicing platform marks a significant advancement in the automation of mortgage registration, modification and termination processes. It aims to reduce transaction times, lower costs and accelerate service delivery while ensuring access to accurate and up-to-date mortgage information for lending financial institutions.
While addressing the ceremony, the minister said, “With signs of macroeconomic recovery—such as interest rates around KIBOR at 13% and the Pakistan Stock Exchange gaining over 1,000 points—we are witnessing a positive momentum. However, there is no room for complacency.”
He underscored the importance of these developments within the broader context of Pakistan’s economic stability, asserting, “Our goal is to establish permanence in macroeconomic stability, and this platform’s end-to-end digitalisation will lead to shorter turnaround times, benefiting the overall economy.”
He elaborated that successful digitalisation requires not only technological advancements but also the commitment of personnel, capacity building and streamlined processes. The digitalisation reduces human intervention, leading to greater transparency and improved facilitation for stakeholders. He added that the government is working on the digitalisation of federal board of revenue to help curb corruption and provide better services to taxpayers.
Sharing insights from recent international engagements in Washington, Saudi Arabia and Qatar, Senator Aurangzeb said that multilateral and bilateral partners are ready and willing to support Pakistan in its efforts toward economic stabilisation. “With billions in investments anticipated multilaterally and bilaterally, we must be cautious about what and how we regulate. We aim to encourage investment without regulatory overreach,” he stated.
In response to media queries regarding climate financing, the finance minister informed that productive meetings with multilateral partners are ongoing and concrete results are expected soon. He also discussed potential improvements in Pakistan’s credit ratings to ‘single B’ by S&P and Moody’s, explaining that rating agencies look for macroeconomic stability, which may take three to four months to achieve.
Earlier, SECP Chairman Akif Saeed highlighted the platform’s efficiency and potential impact on transparency, saying that the servicing of mortgages will become easier for both lenders and borrowers. He mentioned that the SECP plans to expand digital capabilities across corporate registration and end-to-end solutions, with an AI model under development to further enhance processing speed and accuracy.
The new mortgage servicing platform is part of SECP’s ongoing mission to support a business-friendly environment in Pakistan, enhancing the ease of doing business (EODB) and reducing administrative delays to attract local and foreign investment, ultimately contributing to macroeconomic stability.
The EMR launch ceremony marked a significant step toward a fully digitalised financial ecosystem aimed at fostering economic transformation. It was attended by SECP Policy Board Chairman Mehmood Mandviwala, former SBP governor Shamshad Akhtar, finance sector members and media representatives.
Earlier, Finance Minister Muhammad Aurangzeb inaugurated the Southern Regional Office of the Securities and Exchange Commission of Pakistan (SECP) in Karachi. The finance minister, along with SECP Chairman Akif Saeed and other senior officials, cut the ribbon and unveiled the plaque to inaugurate the regional office.
He toured different sections of the newly inaugurated office and directed that it be made fully operational as soon as possible to provide maximum facilities to the business community. He also assured his full support in this regard.
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