Pakistan mulls introducing digital currency

According to Pakistan’s Finance Minister Muhammad Aurangzeb, the government is thinking of bringing digital currency inside its borders.

During the special meeting of the World Economic Forum (WEF) in Riyadh, Pakistan’s Finance Minister Aurangzeb discussed the country’s consideration of adopting digital money.

“Even though we bring in Rs9.4 trillion a year, half of our economy is undocumented,” he said.

Aurangzeb added that a deal to enable the full digitalization of the economy was struck with McKinsey on Friday.

The finance minister declared, “They are coming in and helping us with the end-to-end digitalization of our economy.”

The urgent necessity to put in place a framework for a green tax economy was stressed by FinMin Aurangzeb.

He said that even global organisations like the World Bank (WB) are investigating novel financing arrangements.