Pakistan is thinking of moving towards digital currency, Federal Finance Minister
The finance minister said that the undocumented economy is a major challenge—File/Photo: AFP
Islamabad: Federal Finance Minister Muhammad Aurangzeb has said that Pakistan is thinking of moving towards digital currency.
Speaking in a special session during the ongoing World Economic Forum meeting in Saudi Arabia, Federal Finance Minister Muhammad Aurangzeb described the undocumented economy as the biggest channel.
He has said that ten trillion rupees cash is in circulation and half of the economy is undocumented.
The Finance Minister said that poor women in Pakistan are given assistance money by the government, while the common complaint of women is that the men of their house take away the cash from them.
He said that women want the aid money to be given to them through a digital wallet.
During the special session, Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, said that Pakistan and Egypt are still facing economic difficulties after the Corona epidemic.
He said that due to the corona epidemic, the world economy suffered a loss of 3.3 trillion dollars and the least developed countries had to bear the biggest loss.
Pakistan is thinking of moving towards digital currency, Federal Finance Minister