Pakistan May Adopt Digital Currency: Finance Minister

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In Saudi Arabia, Pakistan’s Finance Minister Muhammad Aurangzeb shared plans about introducing digital currency in the country. He mentioned that this could potentially help underprivileged women in Pakistan who currently face issues with male family members taking away their government-issued cash assistance. By using digital wallets instead, these women could maintain financial independence.

Saudi Arabia: According to Finance Minister Muhammad Aurangzeb of Pakistan, the Saudi Arabian government is pondering over the possibility of implementing a digital currency.

Based on local accounts, Aurangzeb expressed concern over the practice of men in Pakistan taking the cash aid given to impoverished women by the government. These women preferably seek a more secure method of receiving their financial assistance through digital wallets rather than dealing with physical currency.

Utilizing digital currencies can empower underprivileged women by enabling them to manage their allocated finances independently.

Besides his digital currency initiative, Aurangzeb has shown faith in the government’s economic revival strategies, as represented by the International Monetary Fund (IMF) program. He anticipates reaching a consensus on the upcoming stage of this arrangement during June or July.

The Finance Minister underscored some positive economic developments, mentioning that tax revenues have gone up and the trade deficit has shrunk. These are promising indicators that our economy is showing signs of improvement, notwithstanding the obstacles we face. However, he emphasized the necessity for Pakistan to adhere to the International Monetary Fund’s (IMF) program in order to secure a sustainable economic future.

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2024-04-28 14:12