Prime Minister of Pakistan Initiates Meeting About Digitization of Government Administration
As blockchain technology becomes more popular, the concept of digitization becomes even more important. On April 17th, the prime minister decided to hold a meeting that specifically surrounded the administration and his efforts to digitize it.
During this meeting, Prime Minister Imran Khan spoke on many necessary topics, along with the issues surrounding the digitization of government processes. Khan also dealt with the way that blockchain technology will enhance efficiency and transparency in the activities of the government. By implementing these types of protocols, there is a chance that bureaucracy would be eliminated, and that the government would be able to improve general service delivery.
A next-generation trading platform was another topic of interest, helping to improve the interactions between the trade partners of Pakistan. Khan commented that this process of digitization will help to create a sense of synergies between the different authoritative organizations, reducing friction and creating greater ease for business activities within the country.
At the beginning of this month, Pakistan had said that new cryptocurrency regulations would soon be implemented, which will include licensing for digital currency institution. These regulations should help with anti-money laundering efforts and the attack on financial crimes, like terrorism financing.
On April 1st, deputy governor Jameel Ahmad of the State Bank of Pakistan (SBP) said that this institution is looking to issue their own digital currency in the next six years. Based on statements from Ahmad, the goal of this issuance would be to stimulate financial inclusion while reducing the corruption that presently exists. By 2030, the nation’s central bank plans to launch a bank-based digital currency.