Islamabad
\nFederal Minister for Finance and Revenue, Senator Muhammad Aurangzeb has stressed that with millions of Pakistanis, especially youth, already engaged in blockchain and digital assets, the country must embrace this shift as part of its new economy by fostering financial inclusion, transparency, and efficiency, while ensuring a balanced regulatory framework through collaboration between government, academia, and the private sector.
\nThe Minister was addressing the \u2018Leadership Summit on Blockchain and Digital Assets: Technology and Innovation\u2019 held today in Islamabad. The event, organized in collaboration with LUMS, brought together stakeholders from academia, industry, and government to deliberate on the future of blockchain, digital assets, and emerging technologies in Pakistan.
\nIn his keynote address, the Finance Minister underscored the importance of embracing technological innovation to align with the global transition towards the digital economy. He highlighted that while Pakistan is making strides in achieving macroeconomic stability, the next imperative is to actively participate in shaping the new economy driven by blockchain, artificial intelligence, and Web 3.0 technologies.
\nThe Minister noted that an estimated 20 to 25 million Pakistanis, primarily youth, are already engaged in blockchain and digital asset-related activities. \u201cThis scale of participation cannot be ignored,\u201d he remarked, stressing the need for acknowledgment, education, and structured policy responses to harness this growing trend.
\nHe emphasized three key drivers for blockchain adoption in Pakistan: financial inclusion, transparency, and speed. By enabling faster, cheaper, and more efficient transactions, blockchain and allied technologies can provide critical solutions for banking, remittances, agriculture, IT, freelancing, and energy. He cited successful initiatives such as the development of e-KYC systems through blockchain, which reduce duplication of compliance processes in banking, as practical examples of progress.
\nThe Finance Minister also outlined the regulatory dimension of this transformation. He cautioned that given the scale of activity, ignoring digital assets could expose Pakistan to risks related to KYC, AML, sanctions, and monitoring, potentially reversing hard-earned progress on the FATF front. In this context, he highlighted the establishment of the Pakistan Virtual Asset Regulatory Authority (PVARA), whose inaugural meeting is scheduled for next week, as a milestone towards a balanced regulatory framework.
\nSenator Aurangzeb stressed that Pakistan must leverage international experience, drawing on models from Dubai, Singapore, and the EU, while ensuring that national interests remain paramount. He commended the support received from international experts and organizations in helping Pakistan fast-track its regulatory and policy frameworks.
\nReflecting on the broader vision, the Minister reiterated the government\u2019s commitment to fostering an enabling environment while allowing the private sector to lead innovation, with academia providing knowledge and talent. \u201cThis trilateral partnership of government, academia, and private sector is essential to scaling up our journey into the new economy,\u201d he stated.
\nHe concluded by underlining the role of Pakistan\u2019s youth as the driving force of this transition. \u201cWe must harness their energy, channel it through education and regulation, and integrate it into a system that strengthens the economy while safeguarding national interests. This is not just about keeping pace with global change\u2014it is about ensuring Pakistan\u2019s rightful place in the new economy.\u201d
\nThe Minister congratulated LUMS and the organizers of the summit for their leadership and reaffirmed the government\u2019s commitment to supporting all initiatives that accelerate Pakistan\u2019s journey into the digital and blockchain-driven future.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb has stressed that with millions of Pakistanis, especially youth, already engaged in blockchain and digital assets, the country must embrace this shift as part of its new economy by fostering financial inclusion, transparency, and efficiency, while ensuring a balanced regulatory framework through collaboration between government, […]<\/p>\n","protected":false},"author":2,"featured_media":465104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-498641","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n