Islamabad: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb convened a meeting with Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), and Omer Khan, Advisor on Debt Management, to explore the tokenization of sovereign debt instruments and Naya Pakistan Certificates. The discussion marks a significant step in Pakistan’s efforts to modernize its financial infrastructure using blockchain technology.

According to Press Information Department, the meeting focused on implementation pathways, regulatory considerations, and potential frameworks for tokenizing sovereign instruments. A key topic was the adaptation of international models for sovereign debt tokenization, which could integrate with Pakistan’s existing Eurobond program. The proposed model, a Digitally Native Note, would allow for same-day settlement on a regulated blockchain platform, while maintaining compatibility with conventional global financial systems.

The tokenization of Naya Pakistan Certificates was also considered as a means to increase retail participation and improve accessibility for overseas Pakistanis. The government highlighted the potential for digital distribution to extend investment opportunities to a global investor base under strict regulatory oversight.

The meeting underscored the success of the Roshan Digital Account, which has attracted nearly USD 13 billion in inflows from overseas Pakistanis since 2020. The proposed digital agenda aims to expand this channel and integrate Pakistan’s financial products with international markets.

Finance Minister Aurangzeb emphasized Pakistan’s commitment to leveraging financial technologies for economic modernization and investor engagement. Chairman Saqib expressed the strategic importance of transitioning to a digital financial infrastructure, positioning Pakistan to engage with global digital capital networks.

The Ministry of Finance, PVARA, and the State Bank of Pakistan will continue to collaborate on the development of this agenda, with further announcements expected as progress is made. The initiatives reflect Pakistan’s broader strategy to modernize its financial systems and embrace blockchain innovation responsibly.