Finance Minister, PDA Chairperson discuss digital transformation and technology-enabled economy

ISLAMABAD, Aug 13: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met Chairperson Pakistan Digital Authority (PDA) Dr. Sohail Munir to discuss digital transformation, digital finance and measures to expand the use of technology to improve access to finance and support economic activity.

During the meeting, the finance minister emphasized the need to ensure that existing regulatory and institutional frameworks keep pace with advances in digital technology and emerging business models.

The participants discussed developing an enabling framework that recognizes electronic transactions and promotes wider adoption of digital processes across trade and financial activities.

The meeting also focused on improving access to finance through greater use of digital platforms and more efficient processes. The finance minister highlighted the need to simplify customer onboarding, strengthen data-sharing mechanisms and improve interoperability of financial data, including greater integration between banks and capital markets.

Measures to facilitate wider participation in capital markets through digital platforms and streamlined account-opening procedures were also discussed. The participants noted that stronger integration between banking and capital-market systems could help increase investor participation and expand access to investment opportunities.

The meeting reviewed ways to improve the use and interoperability of data across government systems. Senator Muhammad Aurangzeb highlighted the potential of better-connected data systems to support policy formulation, planning and decision-making, including through greater use of technology and Artificial Intelligence.

The participants also discussed strengthening digital infrastructure to enable more efficient delivery of public and financial services. The finance minister stressed that such initiatives should be practical, scalable and aligned with Pakistan’s broader digital transformation objectives.

Digital assets and tokenization were also discussed, including their potential applications in areas such as real estate and other investment assets. The importance of an appropriate regulatory framework and supporting mechanisms was emphasized to facilitate the responsible adoption of emerging technologies.

Senator Muhammad Aurangzeb appreciated the work being undertaken by the Pakistan Digital Authority and stressed the need to focus on practical, high-impact initiatives that could improve efficiency, facilitate access to finance and strengthen digital capabilities across the economy.

The finance minister underscored the importance of sustained coordination among relevant stakeholders to advance digital initiatives, enhance efficiency and support the continued development of Pakistan’s digital economy.