Pakistan moves towards regulated virtual assets, says Aurangzeb

According to Business Recorder, Finance Minister Muhammad Aurangzeb said on Monday that Pakistan is shifting toward a regulated virtual-assets regime. The government wants blockchain and tokenisation to deliver cheaper remittances, SME financing, sovereign debt management and wider financial inclusion. Per a statement released on Tuesday, these remarks came during his New York engagements at the UNGA High-Level Week, the first day of his visit.

At a UN Digital Cooperation Day session on blockchain and tokenisation, he argued that such tools should respond to genuine economic requirements, with private innovation backed by firm state safeguards and inclusive digital infrastructure. At the World Economic Forum, he stressed Pakistan's exposure to floods and other climate disasters, saying outside aid must be matched by home-grown funds and fiscal cushions. He also asked the Green Climate Fund and the Loss and Damage Fund to streamline their procedures and quicken access to financing.

He endorsed the COP31 Action Agenda, saying it lines up with Pakistan's national climate priorities and NDC 3.0. He welcomed the proposed Climate Implementation Bridge as a tool for converting NDC pledges into investable and bankable projects, and said the main challenge is now execution rather than planning. He also praised the agenda for its measurable, results-oriented design, with well-defined steps and indicators.