Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has said digital innovation and digital assets must deliver tangible benefits for people and businesses, as the government reviews the possibility of tokenising Pakistan’s existing Eurobond debt. He was speaking virtually on November 2, 2026, at a dialogue on digital assets and the future of banking organised by the Pakistan Banks’ Association in collaboration with the Lahore University of Management Sciences (LUMS).
What happened?
- The finance minister said Pakistan needs financial innovation, and that digital assets should complement the country’s broader digital transformation by making life easier for people and bringing innovation into the financial system.
- He stressed that new technologies must address real economic needs, including lower-cost remittances, faster business payments, accessible financing for entrepreneurs and increased productive investment.
- Aurangzeb disclosed that the Ministry of Finance and the government are reviewing the possibility of tokenising existing Eurobond debt, and said the government looks forward to cabinet approval before issuing a Request for Bids on the matter.
Key details
- Pakistan has set up a statutory framework for digital assets through the Virtual Assets Act 2026, with the Pakistan Virtual Assets Regulatory Authority (PVARA) responsible for licensing and supervising virtual asset service providers.
- The minister highlighted the potential of tokenisation for international remittances, noting Pakistan received $41.6 billion in remittances during the previous fiscal year, while trends in the first quarter of the current fiscal year suggested inflows could exceed $44 billion.
- He pointed to possible opportunities for improving remittance channels, including transactions linked to Roshan Digital Accounts and overseas Pakistanis.
- Aurangzeb also recalled that Pakistan’s Permanent Mission to the United Nations co-convened a dialogue on blockchain and the tokenised future with the UN Office for Digital and Emerging Technologies during UN Digital Cooperation Day in New York in September.
- He urged banks and their chief information security officers to adopt emerging technologies responsibly, with strong safeguards.
What it means for people in Pakistan
For overseas Pakistanis and their families, tokenised remittance channels could one day mean cheaper and faster transfers, including through Roshan Digital Accounts. For businesses, the minister’s message links digital finance to practical outcomes such as faster payments and easier access to financing. Tokenisation of Eurobonds, if it proceeds after cabinet approval, would be a new way of managing existing government debt rather than new borrowing, but it remains under review and no timeline has been announced.
Source: https://dailyimroz.com/news/aurangzeb-urges-digital-assets-to-serve-economic-growth
