SECP Startup Summit 2024: Finance Minister Calls for Collaborative Innovation to Drive Economic Growth

Finance Minister Muhammad Aurangzeb addressed the Pakistan Startup Summit 2024, organized by the Securities and Exchange Commission of Pakistan (SECP), through a virtual session. He extended a warm welcome to both local and international participants. Moreover, he highlighted the government’s commitment to fostering a vibrant startup ecosystem aimed at driving economic growth and digital transformation in Pakistan. Furthermore, he praised the SECP’s initiative in hosting this event and underscored the role of the government in creating a supportive policy framework to accelerate innovation and entrepreneurial success.

Finance Minister Aurangzeb Charts Growth Path for Pakistan’s Startups at SECP Startup Summit 2024

The Finance Minister highlighted that the government needs to provide policy continuity in the tech and startup sectors, enabling a conducive environment. He emphasized the significance of regulatory innovations. For instance, SECP’s sandbox initiatives offer a safe space for startups to test new solutions, especially in fintech and digital finance. This approach aims to foster high-impact sectors so that companies can navigate initial challenges in a controlled environment.

Reminiscing his recent visit to Riyadh alongside Prime Minister Shehbaz Sharif, the minister underlined his discussions on artificial intelligence and digital growth with global industry leaders. At the summit, he suggested banks and financial institutions support startup growth by facilitating efficient access to banking services for new businesses. Moreover, he highlighted that once SECP grants regulatory approvals, banks must be proactive in offering seamless account opening processes, enabling startups to operate smoothly in Pakistan’s digital economy.

The finance minister also touched upon the importance of financial inclusion, especially for underserved and unbanked populations in Pakistan. He expressed confidence in the startup community’s potential to develop technology-driven solutions that could bridge these gaps. According to him, digital innovation is important in making financial services accessible to rural communities and women.

Muhammad Aurangzeb could not attend the summit in person. However, he expressed his hope to engage directly in future summits. His remarks highlighted the government’s dedication to nurturing a dynamic startup culture and its role in shaping Pakistan’s future as a competitive digital economy.

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