Muhammad Aurangzeb clarified that at the initial stage the government is considering the possibility of switching to payments in CBDC when providing state financial assistance to socially vulnerable groups of citizens, primarily insolvent women.
“The government of Pakistan supports poor women and provides them with cash to maintain a decent standard of living. However, according to many women, male family members take away cash under threat of violence. To overcome this situation, we plan to provide financial support through the use of digital wallets and CBDC,” explained the Minister of Finance.
Pakistani authorities are thinking about creating their own digital money, exploring various options for using CBDC.
Earlier, State Bank of Pakistan (SBP) Governor Jameel Ahmad said that the agency intends to accelerate the development of the digital Pakistani rupee and begin testing its own CBDC in the near future.
Source: Bits
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