Digital currencies on the agenda as Pakistan seeks economic revival

ISLAMABAD: While presiding over a meeting of the Economic Advisory Council (EAC), Prime Minister Shehbaz Sharif announced the government was actively working to regulate digital currencies. “Consultations are currently underway regarding the regulation of digital currencies.”

Acknowledging the global shift towards digital currencies, he said the government was evaluating the advantages and disadvantages of adopting digital currencies, reported Dawn.

Sharif said the economic stability was a collective undertaking rather than an individual achievement, and reinforced his commitment to sustainable economic development. The Prime Minister also underscored the importance of maximising the current potential for regional trade.

Pakistan’s IT sector leads service exports with 40.68 per cent growth

In his remarks, he highlighted initiatives aimed at enhancing the competitive capability of local industries in the international market through increased exports. “Our top priorities include industry, agriculture, IT development, job creation, and boosting exports,” he stated, also mentioning the goal of establishing green data centres within the country.

He said efforts were being made to enhance telecommunication services and to expand internet access to remote areas, which will in turn support the growth of freelancers and IT exports. He urged that the constructive discussions from the meeting be transformed into actionable plans.

Participants at the meeting acknowledged that Pakistan’s economy was stable and moving towards growth, attributing price stability to increased production levels. They believed that enhancements to the country’s tax system, simplification of regulations, and the establishment of a business and investor-friendly environment have played a significant role in the growth of various major sectors.