At the meeting, Pakistani Prime Minister Imran Khan reportedly addressed such issues as digitization of government processes and blockchain technology’s impact on ensuring efficiency and transparency in its operations. Khan also highlighted the potential to eliminate bureaucracy and improve general service delivery in accordance with the government’s vision.
The discussion also touched on a next generation trading platform for the country that would purportedly facilitate trade efficiency with Pakistan’s trade partners. Khan stated:
“The digitalization will also create much needed synergies among the government organizations for ensuring friction-less service delivery and improving ease of doing business in the country.”
Earlier in April, Pakistan announced it will implement new cryptocurrency regulations in the form of a licensing scheme for electronic money institutions in an effort to improve its track record fighting financial crime. The regulations will reportedly “help combating money laundering and terrorism financing while it will also help regulation of digital currency throughout the country.”
On April 1, Jameel Ahmad, the deputy governor of the State Bank of Pakistan (SBP), the nation’s central bank, declared that the institution aims to issue a digital currency by 2025. According to the official, the aim is to promote financial inclusion and efficiency and combat corruption. The complete deployment of the central bank digital currency, however, is set to happen by 2030.