RIYADH: Pakistan’s Finance Minister Muhammad Aurangzeb said on Sunday that the government is considering moving to digital currency.
Speaking at the World Economic Forum (WEF) special meeting in Riyadh, the finance minister said that the undocumented economy has been the biggest challenge for the country. Around ten trillion rupees of tax circulating in the market.
Pakistan’s Annual Revenues
The finance minister said that Pakistan has Rs9.4 trillion in annual revenues and half of its economy has been undocumented. He said that the government was providing cash assistance to entitled women as income support. Beneficiary women want to get the cash by digital vault.
IMF Managing Director Kristalina Georgieva speaking at the meeting said some countries including Pakistan facing economic hardships. She said some countries are doing well, but others are “falling behind,” without providing further clarification.
IMF chief said that the Covid-19 pandemic hit hard the economies of low-income nations. The global economy suffered a $3.3 trillion loss during the pandemic Kristalina Georgieva said.
