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Pakistan’s Finance Minister Reaffirms Government’s Interest in Digital Currency

Pakistan’s plans for a central bank digital currency (CBDC) gained fresh momentum on Sunday, with finance minister Muhammad Aurangzeb raising the debate again. At the World Economic Forum (WEF) special meeting in Riyadh, Aurangzeb highlighted the nation’s undocumented economy as its biggest hurdle, local outlet World Echo reported. He revealed that Pakistan’s annual revenue stands at Rs. 9.4 trillion ($33.7b), but about half of its economy is not officially recorded. Pakistan’s central bank, the State Bank of Pakistan (SBP), is aiming to fast-track the development of a digital rupee, aiming for a potential launch in 2025.

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