Govt working on regulating digital currencies: PM Shehbaz – Business

ISLAMABAD: Prime Minister Shehbaz Sharif said on Wednesday that the government was working on regulating digital currencies.

Presiding over an Economic Advisory Council (EAC) meeting, the prime minister said: “Consultations are underway regarding the regulation of digital currencies.”

A Prime Minister’s Office (PMO) source told Dawn that the PM believed the world was turning towards digital currencies. “Therefore, we are reviewing the pros and cons of using digital currencies,” the prime minister said.

According to an official press release, the EAC members expressed their full confidence in the government’s economic policies and presented key suggestions to boost economic growth.

Welcoming the recommendations, Mr Shehbaz instructed the relevant authorities to collaborate with the council members to form a comprehensive action plan based on these suggestions.

He emphasised that economic stability was not the result of an individual effort but the collective efforts of the entire team.

Reiterating his commitment to work for the sustainable development of the economy, the premier stated that the current potential for regional trade would be fully utilised.

The prime minister also highlighted efforts to make local industries capable of competing in international markets with their exports.

“Industry, agriculture, IT development, job creation, and increasing exports are among the government’s top priorities,” he said, stressing establishing green data centres in the country.

He said efforts were underway to improve telecommunication services and provide internet access to remote areas, which will help boost the number of freelancers and IT exports.

The PM stressed the need to turn the meeting’s constructive discussions into actionable plans. Participants of the meeting acknowledged that Pakistan’s economy was stable and progressing towards growth, saying that price stability had led to increased production.

They said the government’s economic team had proved all projections and analyses wrong, and global economic institutions, the business community, and investors were united in acknowledging the government’s action plan.

The participants also commended the prime minister for his commitment to implementing institutional reforms, which had not been seen in Pakistan’s history before.

The participants believed that the improvement in the country’s tax system, ease of regulations, and the creation of a business and investor-friendly environment had contributed to the growth in all major sectors.

Published in Dawn, February 20th, 2025