Karachi: Pakistan’s Finance Minister, Muhammad Aurangzeb, emphasized the need for financial innovation to reduce business costs and increase participation in the formal economy during a virtual dialogue on Digital Assets and the Future of Banking organized by the Pakistan Banks’ Association.

According to Radio Pakistan, Aurangzeb highlighted Pakistan’s transition from macroeconomic stability to sustainable growth, which he noted requires fiscal discipline, stronger exports, and increased private investment. He pointed out that digital assets need to contribute to these economic goals to earn their place in the financial system.

Aurangzeb emphasized the necessity of a financial system that efficiently serves businesses, stressing that digital innovation should support the country’s economic priorities and deliver measurable outcomes. He mentioned that Pakistan has established a statutory framework through the Virtual Assets Act 2026 and underscored the importance of effective implementation through capable supervision and better coordination among institutions.

The Finance Minister also addressed the potential for emerging technologies to tackle real economic challenges while ensuring strong safeguards are in place. Additionally, he revealed that the government is considering the tokenization of existing Eurobond debt and anticipates cabinet approval before issuing a Request for Bids on this matter.