Govt 'reviewing pros and cons' of digital currencies: PM Shehbaz

'Consultations are underway regarding the regulation of digital currencies,' says prime minister Shehbaz Sharif
An undated image of Bitcoin. — Depositphotos

An undated image of Bitcoin. — Depositphotos

Moving ahead towards the nationwide digitalisation introduced recently under the Digital Nation Pakistan bill, Prime Minister Shehbaz Sharif said on Wednesday that the government was "reviewing the pros and cons of using digital currencies.”

The development comes in line with the incumbent government's plans to regulate digital currencies before their launch and subsequent acceptance as a viable payment option across Pakistan.

“Consultations are underway regarding the regulation of digital currencies,” said the prime minister (PM) while addressing the Economic Advisory Council (EAC) meeting.

The regulatory measure was taken per the PM's realisation that digital currencies were undergoing a boom around the world.

Taking the EAC members into confidence, Sharif directed authorities concerned to collaborate with committee members to devise a strategy for the execution of suggestions put forth by them.

The PM remarked that economic stability can not be attained only with individual effort, noting that it's an outcome of collective efforts of those involved in decision making.

Government efforts were also underway to enhance telecommunication services and ensure strong internet access in remote areas.