Prime Minister Muhammad Shehbaz Sharif chaired a key meeting of the Economic Advisory Council (EAC) on Wednesday, where discussions focused on Pakistan’s economic growth and regulatory measures for emerging financial technologies, including digital currencies. The meeting saw strong confidence expressed by council members in the government’s economic policies, with recommendations aimed at further strengthening Pakistan’s economic trajectory.
One of the notable disclosures from the session was Prime Minister Shehbaz’s confirmation that consultations are underway regarding the regulation of digital currencies. While Pakistan has yet to implement a formal framework for cryptocurrency and digital assets, the acknowledgment of ongoing discussions signals a potential shift towards developing a regulatory structure for the sector. The move aligns with global trends where governments are working to establish clear policies to integrate digital currencies into their financial systems while mitigating risks such as money laundering and illicit transactions.
PM Shehbaz welcomed the council’s recommendations and directed relevant authorities to collaborate with stakeholders to formulate a comprehensive action plan. Emphasizing that economic stability is a collective effort, he reiterated the government’s commitment to sustainable economic development. He also highlighted the importance of maximizing regional trade potential, boosting exports, and enhancing Pakistan’s competitiveness in global markets.
A key focus of the meeting was strengthening local industries and ensuring their competitiveness on an international scale. The prime minister stressed the need for industrial growth, advancements in agriculture, IT sector development, job creation, and export expansion. Additionally, he underscored the importance of establishing green data centers in Pakistan as part of the country’s broader digital transformation strategy.
Efforts to enhance telecommunication services and improve internet accessibility in remote areas were also discussed. These initiatives are expected to directly support the growth of Pakistan’s freelancer community and contribute to an increase in IT exports. Expanding internet access and digital infrastructure would enable more individuals to participate in the global digital economy, helping the country capitalize on the rapidly growing gig and tech sectors.
Council members acknowledged that Pakistan’s economy is stabilizing and showing signs of sustained growth. They noted that price stability has led to increased production, and the government’s economic team has successfully defied many previous negative projections. For the first time, global financial institutions, investors, and the business community are aligned in their recognition of the government’s economic policies and their impact on growth.
Participants also commended the prime minister for his commitment to institutional reforms, noting that such decisive policy measures have been rare in Pakistan’s history. They highlighted improvements in the country’s tax system, regulatory environment, and overall business climate, which have contributed to positive developments across key sectors.
Additionally, the meeting emphasized the enhanced relationship between the government and the business community, with more direct consultations taking place than ever before. A crackdown on smuggling was cited as another factor positively impacting export figures, reinforcing the effectiveness of recent economic reforms.
The high-profile meeting was attended by business leaders including Jehangir Khan Tareen, Saqib Shirazi, Shehzad Saleem, Musaddiq Zulkarnain, Dr. Ejaz Nabi, Asif Peer, Zaid Bashir, and Salman Ahmed. Key government officials present included Federal Ministers Ahsan Iqbal, Rana Tanveer Hussain, Jam Kamal Khan, Ahad Khan Cheema, Mohammad Aurangzeb, Minister of State Ali Pervez Malik, and Prime Minister’s Coordinator Rana Ehsan Afzal, along with other senior officials.
As Pakistan explores digital currency regulation, the outcome of these ongoing consultations will be critical in shaping the country’s stance on crypto adoption. With financial technology evolving rapidly, the government’s approach to digital assets could play a pivotal role in defining the future of Pakistan’s financial landscape.
