News and Analytics

0

Pakistan Considers Implementing Digital Currency: Finance Minister

Apr 28, 2024

According to reports, Finance Minister Muhammad Aurangzeb of Pakistan mentioned the government is contemplating the idea of incorporating digital currency into the financial system. Aurangzeb stated that women in Pakistan who are financially vulnerable often face challenges when receiving cash assistance from the government, as the funds are sometimes taken by male family members. These women prefer receiving the money directly into digital wallets instead of physical cash for better control and financial independence. Implementing digital currency could potentially safeguard the financial autonomy of underprivileged women by providing them with agency over the funds intended for them. In addition to the proposal for digital currency, Aurangzeb expressed optimism regarding the economic recovery efforts of the government through the International Monetary Fund (IMF) program. He indicated that Pakistan foresees finalizing the next phase of the IMF agreement in June or July. The Finance Minister emphasized that tax collection rates have risen, and the trade deficit has decreased, indicating positive economic growth despite facing various obstacles. Aurangzeb highlighted that adhering to the IMF program is crucial for Pakistan, as there are no viable alternatives.

Comments

Latest analytics

Maximizing Profits...

Maximizing Profits in 2024: A Detailed Evaluation of ValueZone.AI

Casinos without...

Casinos without Swedish License - Top List of Best Casinos...

Show more

Latest Dapp Articles

Show more

You may also like