Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has emphasized that Pakistan must embrace blockchain and digital assets to shape its future economy, noting that millions of Pakistanis, particularly youth, are already actively engaged in digital asset markets. Speaking at the Leadership Summit on Blockchain and Digital Assets: Technology and Innovation, held in Islamabad in collaboration with LUMS, the minister highlighted that blockchain can provide financial inclusion, transparency, and efficiency while also driving innovation across critical industries. He stressed that this digital wave must be harnessed through structured policies, education, and collaboration between government, academia, and the private sector to ensure Pakistan builds a secure and future-ready digital economy.
Aurangzeb explained that nearly 20 to 25 million Pakistanis are already participating in blockchain and digital asset activities, a scale that cannot be overlooked. He outlined that blockchain’s adoption in Pakistan is motivated by three major advantages: financial inclusion, transparency, and speed. Faster and cheaper transactions, he said, have the potential to support banking, freelancing, IT, agriculture, and energy sectors. He pointed to blockchain-based electronic KYC systems as an effective example, which can help banks reduce duplication and accelerate compliance processes, thereby improving operational efficiency.
The finance minister also underscored the importance of regulation, cautioning that ignoring digital assets could expose Pakistan to risks in areas such as KYC, AML, and FATF compliance. He announced that the Pakistan Virtual Asset Regulatory Authority (PVARA) has been established and will hold its first meeting in the coming week, a step he described as essential for creating a reliable regulatory framework. Aurangzeb added that Pakistan should learn from successful global models in Dubai, Singapore, and the European Union, while carefully aligning them with national interests and security priorities. He highlighted that international expertise will be vital in accelerating Pakistan’s regulatory and policy frameworks to keep pace with global digital trends.
Reaffirming the government’s commitment to creating an enabling environment, Aurangzeb stressed that the private sector must take the lead in innovation, with academia providing talent, training, and research to strengthen this ecosystem. He described this trilateral partnership as a necessity for Pakistan’s transition into the new economy. Closing his address, the minister praised the role of youth, calling them the driving force behind the country’s digital transformation. He urged that their participation be guided through education, structured regulation, and systems that balance innovation with national priorities, allowing Pakistan to position itself as an active player in the global digital economy.
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