Digital transformation key to Pakistan’s sustainable growth: Aurangzeb

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has said digital transformation is central to Pakistan’s transition from economic stabilisation towards sustainable economic growth, the Finance Division said on Wednesday. Addressing the Digital Cooperation Organization’s (DCO) High-Level Ministerial Dialogue in New York, the finance minister highlighted the importance of developing digital public infrastructure and expanding cashless payment systems. Aurangzeb, who is in New York to attend the 81st session of the United Nations General Assembly (UNGA), said Pakistan’s digital transformation agenda should go beyond connectivity and include comprehensive upskilling and reskilling programmes. He noted that enhanced digital skills could enable freelancers and other digital workers to move towards higher-value services, helping strengthen the country’s digital economy. The minister also discussed the growing adoption of virtual assets and Pakistan’s efforts to establish an appropriate framework covering legislation, oversight and licensing. He emphasised that the potential of virtual assets extends beyond cryptocurrency, pointing to their possible application in facilitating cheaper and more seamless remittances. Aurangzeb also highlighted the potential for tokenisation in areas such as public debt and real estate, suggesting that emerging digital technologies could create new avenues for financial innovation. He called for greater cooperation among DCO member states to exchange successful experiences, share policy approaches and facilitate investment in the digital economy. The minister’s participation in the DCO dialogue comes as Pakistan seeks to strengthen its digital infrastructure and leverage technology as part of its broader economic growth strategy.

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