Islamabad: Finance Minister Muhammad Aurangzeb emphasized the importance of fortifying Pakistan’s regulatory institutions to enhance investor confidence and align the country with global advancements in the digital economy. This statement was made during his inaugural official visit to the Pakistan Virtual Asset Regulatory Authority (PVARA) in Islamabad.

According to Radio Pakistan, the Minister was briefed on PVARA’s ongoing efforts to establish Pakistan’s first regulatory framework for virtual assets. During the meeting, PVARA’s senior leadership provided a thorough overview of the Authority’s mandate, policy direction, and progress in developing a comprehensive governance structure for virtual assets. The briefing highlighted PVARA’s phased approach, which aims to align regulation with national priorities, protect consumers, and support financial stability.

The Finance Minister was informed about the Authority’s consultations with both domestic and international stakeholders, the drafting of regulatory guidelines, and the steps being taken to ensure a transparent virtual assets regime. This regime is intended to adhere to all legal and procedural requirements.

Minister Aurangzeb expressed his appreciation for PVARA’s work since its inception, commending the team’s dedication to advancing this critical national mandate. He stressed the importance of timely implementation and acknowledged the role of regulatory clarity in safeguarding Pakistan’s economic and financial interests.

Furthermore, the Finance Minister instructed his office to swiftly address and resolve any administrative issues or procedural challenges faced by PVARA, affirming the government’s complete support for the Authority’s initiatives.