Pakistan advances into the era of digital economy

July 30, 2025 (MLN): Pakistan took a significant step forward in its digital transformation journey today, as leaders from government, finance, and technology came together at the National Incubation Center (NIC) Karachi for a high-profile event focused on the future of digital economy and virtual assets.

The event, jointly organized by REIT Academy Pakistan, IRADAM, and Blockanica Technologies, featured keynote addresses, panel discussions, and stakeholder engagement on blockchain innovation, asset tokenization, and the regulatory roadmap for digital finance in Pakistan.

Khurram Schehzad Outlines Government’s Strategic Reforms

Delivering the headline address, Mr. Khurram Schehzad, Advisor to the Minister for Finance & Revenue, outlined the government's vision and decisive steps toward a regulated, innovation-ready digital finance framework.

He credited Finance Minister Senator Muhammad Aurangzeb for spearheading reform by establishing the Pakistan Crypto Council (PCC) and championing the recently enacted PVARA Ordinance 2025, which formalizes the virtual assets regime in Pakistan.

“We’re not just experimenting with crypto — we are building the foundations of a secure, Shariah-aligned, and forward-looking digital economy and virtual assets ecosystem,” Mr. Schehzad said. “This includes clear regulations, robust compliance, and greater financial inclusion.”

Mr. Schehzad emphasized coordination across key regulators including the Ministry of Finance, State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Ministry of IT, and Ministry of Law, noting that Pakistan is aligning its policies with AML/FATF guidelines while building trust through institutions like SBP and SECP.

He also highlighted the government's broader economic strategy, which includes:

- Privatization of major SOEs including PIA, ZTBL, and DISCOs during FY26.

- Pensions and Rightsizing of Federal Government.

- Energy and Tax Reforms with digitization.

- Public Finance optimization and Climate adoptions.

- Digitization and tokenization of real-world assets, including real estate, mining, and others, while building blockchain/web 3.0 for finance, agriculture and other sectors.

- Mining sector reforms focused on copper and rare earth reserves.

- Ecosystem development through private credit and startup seed capital, amongst other impact financing measures.

In the meantime, Pakistan’s pioneering Real Estate Tokenization (RET) Management and Issuer company has announced successful completion of its blockchain-based Distributed Ledger Technology (DLT) testing under the SECP Regulatory Sandbox.

Reinforcing Pakistan’s commitment to innovation and education in this domain, Mr. Khurram Schehzad also formally inaugurated the Real-World Asset (RWA) Tokenization Academy, launched in partnership with NIC Karachi, IBA CEIF, Barsols Legal Chamber, and Blockanica Technologies.

The Academy aims to build local expertise and foster innovation in this emerging field.

Industry Leaders Signal Investor Readiness

The event featured thought leaders including Mr. Nasim Beg (Arif Habib Consultancy), Ali Farid Khawaja (CeDAR), Humza Khan (Binance), Ayaz Uqaili (Sindh IT), and Mr. Azfar Hussain (Director, NIC Karachi), who hosted the event and underscored NIC’s role in enabling frontier technologies and digital entrepreneurship.

These leaders emphasized Pakistan’s large crypto-ready user base, job creation potential, and the urgency of investor protections.

Panelists discussed the evolving legal framework under PVARA, the launch of the Digital Nation Act, and the mechanics of blockchain-based real estate tokenization, led by representatives from DigiEstate and NextchainX.

A Future Built on Regulation, Inclusion, and Innovation

The event concluded with optimism as Mr. Khurram Schehzad reiterated Pakistan’s commitment to a globally competitive, locally relevant digital finance system:

"Pakistan has the adaptability, the user base, and the investor interest. What we’re building now is the governance, trust, and infrastructure to match it.”

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