Islamabad: Finance Minister Muhammad Aurangzeb has highlighted the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) as a key step in the government’s efforts to position Pakistan as a digital economy.
During an interactive session with participants of the URAAN Overseas Pakistanis Summer Scholars Programme, Aurangzeb said PVARA would provide a modern regulatory framework for virtual assets and strengthen oversight of the growing digital finance sector.
He said the initiative would promote responsible innovation and enable Pakistan to benefit from emerging opportunities in digital finance.The finance minister also briefed the scholars on the government’s economic reform agenda, saying the focus was shifting towards sustainable growth through higher exports, increased investment, fiscal discipline and structural reforms.
He said creating an enabling environment for private sector-led growth remained central to the government’s economic strategy, while measures were being taken to improve the business environment through tax reforms, affordable financing, competitive energy pricing and initiatives to strengthen export competitiveness.
Aurangzeb also highlighted efforts to diversify Pakistan’s financing sources and strengthen engagement with international capital markets, citing the country’s return to global capital markets and the issuance of its inaugural Panda Bond.
The session also covered economic reforms, export promotion, climate finance and investment opportunities. The finance minister urged the overseas Pakistani scholars to use their education, research and international experience to contribute to Pakistan’s economic development.
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