Muhammad Aurangzeb further clarified that, in the preliminary phase, the government is evaluating the possibility of implementing CBDC payments when delivering financial assistance to socially disadvantaged groups, particularly impoverished women.
“The government of Pakistan actively supports underprivileged women, providing them with cash to maintain a decent standard of living. However, many women face the unfortunate situation where male members of their families forcibly take the cash away under the threat of violence. To address this issue, we propose to extend financial aid through the use of digital wallets and CBDC,” elaborated the Minister of Finance.
The Pakistani authorities are currently exploring different avenues for the utilization of CBDC and contemplating the creation of their own digital currency.
Earlier, Jameel Ahmad, the Governor of the State Bank of Pakistan (SBP), expressed the agency’s intention to expedite the development of the digital Pakistani rupee and commence testing their CBDC in the near future.