Pakistan's finance minister, Muhammad Aurangzeb, has suggested that tokenisation could be applied to public debt and real estate. He made the case at the Digital Cooperation Organization's (DCO) High-Level Ministerial Dialogue, describing digital transformation as central to Pakistan's shift from economic stabilisation to sustainable growth. The Finance Division released details of his remarks on Wednesday.

Mr Aurangzeb, a senator who holds the finance and revenue portfolio, is in New York for the 81st session of the United Nations General Assembly (UNGA). He told the meeting that building digital public infrastructure and expanding cashless payments are important elements of Pakistan's economic plans. He also argued that internet access alone is not enough. In his view, Pakistan's digital agenda must include broad programmes to upskill and reskill workers. Better digital skills, he said, would help freelancers and other online workers move into higher-value services and strengthen the wider digital economy.

The minister also discussed virtual assets, which he noted are being adopted more widely. He said Pakistan is developing a regulatory framework that covers legislation, supervision and licensing for the sector. He argued that virtual assets have uses beyond cryptocurrency, including making remittances cheaper and simpler. He presented the tokenisation of public debt and property as an example of how new digital technologies could open the way to financial innovation.

Mr Aurangzeb also urged DCO member states to work more closely together. He called on them to share successful experiences and policy approaches and to help attract investment into the digital economy.

His appearance at the forum reflects Pakistan's wider effort to improve its digital infrastructure and use technology to support economic growth. His proposals on tokenised debt and digital remittances will need detailed regulation and broad public acceptance before they can have much effect on the economy.