Islamabad, August 23, 2025 – Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has emphasized the urgent need for collaboration between government, academia, and the private sector to accelerate Pakistan’s transition into a technology-driven economy powered by blockchain and digital assets.
Speaking at the ‘Leadership Summit on Blockchain and Digital Assets: Technology and Innovation’, organized in collaboration with LUMS, Aurangzeb stated that millions of Pakistanis—particularly the youth—are already actively involved in blockchain-based ventures and digital asset ecosystems. This level of participation, he stressed, cannot be ignored and must be supported through structured policies and education initiatives.
The finance minister underlined that blockchain technology offers transformative potential for financial inclusion, transparency, and efficiency, while also reducing transaction costs across multiple sectors, including banking, remittances, agriculture, IT, freelancing, and energy. He cited the development of e-KYC systems through blockchain as a practical example of how such technologies can streamline compliance and prevent duplication within banking and financial services.
Aurangzeb highlighted three critical factors driving blockchain adoption: the growing global shift toward digital economies, Pakistan’s youthful demographic already embracing the technology, and the need to strengthen financial governance while mitigating risks related to KYC, AML, and sanctions. He warned that failing to recognize the scale of digital asset activity could compromise Pakistan’s hard-earned progress on the FATF compliance front.
The minister announced that the Pakistan Virtual Asset Regulatory Authority (PVARA) is set to hold its inaugural meeting next week—marking a milestone in establishing a balanced regulatory framework. Drawing inspiration from models in Dubai, Singapore, and the EU, Aurangzeb stressed the importance of leveraging international expertise while safeguarding Pakistan’s national interests.
He further emphasized that the journey toward a digital economy will rely on a robust partnership where the government ensures an enabling environment, academia contributes knowledge and talent, and the private sector leads innovation. Congratulating LUMS for organizing the summit, Aurangzeb reaffirmed the government’s commitment to building a future where blockchain-driven solutions strengthen Pakistan’s economic foundations and global competitiveness.