NEW YORK: Pakistan is transitioning toward a regulated virtual-assets framework as the government seeks to harness blockchain and tokenization for cheaper remittances, small and medium enterprise financing, sovereign debt and broader financial inclusion, Finance Minister Muhammad Aurangzeb said.
Aurangzeb made the remarks during high-level engagements in New York on the first day of his visit during the U.N. General Assembly's High-Level Week of the 81st Session, according to a statement issued Tuesday.
Speaking at "United Nations Digital Cooperation Day 2026, Blockchain and the Tokenised Future: Sovereign Choices and Safeguards for Next-Gen DPI," Aurangzeb highlighted Pakistan's transition toward a regulated virtual-assets framework.
He emphasized that tokenization must address real economic needs, including cheaper remittances, SME financing, sovereign debt and broader financial access. He stressed that private-sector innovation should be supported by strong state safeguards, inclusive digital infrastructure and international cooperation, with emerging economies fully involved in shaping global standards.
Aurangzeb also highlighted Pakistan's climate vulnerability, disaster-response priorities, the opportunities presented by digital transformation and tokenization, and the importance of translating climate commitments into practical and investable actions.
At the World Economic Forum's "Financing Planet and Prosperity" meeting, the finance minister underscored Pakistan's acute vulnerability to climate-related disasters, particularly floods affecting infrastructure and communities.
He outlined the government's efforts to strengthen disaster-response frameworks, early-warning systems and costed climate-investment plans, while emphasizing that external assistance must be complemented by domestic resources and fiscal buffers.
Aurangzeb cited the mobilization of financing through the World Bank, Asian Development Bank and international capital markets for relief, adaptation and reconstruction. He cautioned against complacency and called on international climate funds, including the Green Climate Fund and the Loss and Damage Fund, to simplify their procedures and accelerate access to financing.
Aurangzeb also participated in the launch of the COP31 Action Agenda, expressing Pakistan's full support for the agenda and noting its strong alignment with the country's national climate priorities and NDC 3.0.
He highlighted shared priorities including clean energy and electrification, renewable-energy expansion, energy-efficient buildings, climate-resilient cities, climate education and public awareness, food security and climate-resilient agriculture.
Welcoming the proposed Climate Implementation Bridge, Aurangzeb described it as a mechanism for translating NDC commitments into investable and bankable projects. He stressed that the principal challenge was no longer the formulation of plans but their effective implementation, and commended the agenda's clearly defined action points and key performance indicators as practical, impact-oriented and focused on measurable results.
