Saudi Arabia, Pakistan’s Finance Minister Muhammad Aurangzeb said the government is considering introducing digital currency.
According to local reports, Aurangzeb stated that poor women in Pakistan who receive cash assistance from the government often have the money taken away by male family members. The women want to get the money directly into digital wallets instead of receiving physical cash.
Adopting digital currency could help protect the financial independence of underprivileged women by giving them control over the funds meant for them.
Apart from this digital money plan, Aurangzeb recently expressed confidence in the government’s economic recovery efforts through the International Monetary Fund (IMF) program. He said Pakistan expects to agree on the next phase of the IMF deal in June or July.
The Finance Minister highlighted that tax collection has increased and the trade deficit has reduced – signs that the economy is improving despite challenges. He stressed Pakistan has no alternative but to follow through with the IMF program.
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