Pakistan’s finance chief says 15% of citizens in digital assets, urges adoption of ‘new economy’

Pakistan’s Minister for Finance and Revenue Muhammad Aurangzeb speaks during a discussion on Pakistan, during the International Monetary Fund and World Bank Group 2024 Annual Meetings, in Washington, DC on October 22, 2024. (Sipa USA via Reuters/File)
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Updated 23 August 2025
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Pakistan’s finance chief says 15% of citizens in digital assets, urges adoption of ‘new economy’

  • Muhammad Aurangzeb says government drafting virtual assets bill, to be reviewed by parliament
  • He says Pakistan Virtual Asset Regulatory Authority set to hold inaugural meeting on August 25

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Saturday the country could not ignore the rapid growth of digital assets, pointing out that about 15 percent of citizens were already involved in the sector, prompting the government to work on a regulatory framework for virtual investment.

The minister’s remarks came at the Leadership Summit on Blockchain and Digital Assets in Islamabad, where he highlighted the need to harness emerging technologies to align Pakistan’s economy with global trends.

He said the government’s role was to provide a regulatory framework and enabling environment, while the private sector and youth were expected to drive innovation.

“When you see 20 to 25 million citizens of this country participating in this activity in one form, shape or the other … you cannot ignore that,” he said in his address to the conference.

He added the realization that “10 to 15 percent of the citizens of this country” were investing in virtual assets led to the genesis of the discussion on cryptocurrency in Pakistan.

Aurangzeb said the government had already established the Pakistan Crypto Council and the Pakistan Virtual Asset Regulatory Authority, whose inaugural meeting is scheduled on Monday, August 25.

A draft bill on digital investment and virtual assets is also being submitted to the Senate Standing Committee on Finance and will soon be moved to the National Assembly for approval.

The Pakistani finance chief described the expansion of digital assets as part of Pakistan’s entry into the “new economy,” stressing the importance of transparency, clear rules and learning from international models.

“I’m very clear that the private sector has to lead this country, and the government just needs to provide the ecosystem,” he added.

Aurangzeb noted it was vital for Pakistan to accelerate its economic journey by embracing new global trends, though he also maintained that “we must go into this with our eyes and ears open.”


Imran Khan’s party shutdown draws mixed response; government calls it ‘ineffective’

Updated 08 February 2026
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Imran Khan’s party shutdown draws mixed response; government calls it ‘ineffective’

  • Ex-PM Khan’s PTI party had called for a ‘shutter-down strike’ to protest Feb. 8, 2024 general election results
  • While businesses reportedly remained closed in Khyber Pakhtunkhwa, they continued as normal elsewhere

ISLAMABAD: A nationwide “shutter-down strike” called by former prime minister Imran Khan’s party drew a mixed response in Pakistan on Sunday, underscoring political polarization in the country two years after a controversial general election.

Khan’s Pakistan Tehreek-e-Insaf (PIT) opposition party had urged the masses to shut businesses across the country to protest alleged rigging on the second anniversary of the Feb. 8, 2024 general election.

Local media reported a majority of businesses remained closed in the Khyber Pakhtunkhwa (KP) province, governed by the PTI, while business continued as normal in other provinces as several trade associations distanced themselves from the strike call.

Arab News visited major markets in Islamabad’s G-6, G-9, I-8 and F-6 sectors, as well as commercial hubs in Rawalpindi, which largely remained operational on Sunday, a public holiday when shops, restaurants and malls typically remain open in Pakistan.

“Pakistan’s constitution says people will elect their representatives. But on 8th February 2024, people were barred from exercising their voting right freely,” Allama Raja Nasir Abbas Jafri, the PTI opposition leader in the Senate, said at a protest march near Islamabad’s iconic Faisal Mosque.

Millions of Pakistanis voted for national and provincial candidates during the Feb. 8, 2024 election, which was marred by a nationwide shutdown of cellphone networks and delayed results, leading to widespread allegations of election manipulation by the PTI and other opposition parties. The caretaker government at the time and the Election Commission of Pakistan (ECP) both rejected the allegations.

Khan’s PTI candidates contested the Feb. 8 elections as independents after the party was barred from the polls. They won the most seats but fell short of the majority needed to form a government, which was made by a smattering of rival political parties led by Prime Minister Shehbaz Sharif. The government insists the polling was conducted transparently and that Khan’s party was not denied a fair chance.

Authorities in the Pakistani capital deployed a heavy police contingent on the main road leading to the Faisal Mosque on Sunday. Despite police presence and the reported arrest of some PTI workers, Jafri led local PTI members and dozens of supporters who chanted slogans against the government at the march.

“We promise we will never forget 8th February,” Jafri said.

The PTI said its strike call was “successful” and shared videos on official social media accounts showing closed shops and markets in various parts of the country.

The government, however, dismissed the protest as “ineffective.”

“The public is fed up with protest politics and has strongly rejected PTI’s call,” Pakistan’s Information Minister Attaullah Tarar said on X.

“It’s Sunday, yet there is still hustle and bustle.”

Ajmal Baloch, All Pakistan Traders Association president, said they neither support such protest calls, nor prevent individuals from closing shops based on personal political affiliation.

“It’s a call from a political party and we do not close businesses on calls of any political party,” Baloch told Arab News.

“We only give calls of strike on issues related to traders.”

Khan was ousted from power in April 2022 after what is widely believed to be a falling out with the country’s powerful generals. The army denies it interferes in politics. Khan has been in prison since August 2023 and faces a slew of legal challenges that ruled him out of the Feb. 8 general elections and which he says are politically motivated to keep him and his party away from power.

In Jan. 2025, an accountability court convicted Khan and his wife in the £190 million Al-Qadir Trust land corruption case, sentencing him to 14 years and her to seven years after finding that the trust was used to acquire land and funds in exchange for alleged favors. The couple denies any wrongdoing.