Pakistan considering moving towards digital currency: finance minister

WEB DESK: Finance Minister Mohammad Aurangzeb on Sunday said that Pakistan is considering moving towards digital currency.

Mohammad Aurangzeb while speaking at a special World Economic Forum session, said that the biggest challenge Pakistan is facing is the undocumented economy. He stated that half of the economy is undocumented and that ten billion rupees are in circulation as cash under the table.

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According to the Finance Minister, the government provides financial support to economically disadvantaged women. Women frequently lament that the men in their homes embezzle money from them. They would want to get payments using digital wallets.

According to the IMF’s Managing Director, following the COVID-19 pandemic, Pakistan and Egypt continue to confront economic difficulties, COVID-19 caused a $3.3 trillion loss to the world economy, with the least developed nations bearing the brunt of this damage.