Govt mulls tokenisation of real estate, other assets

PDA, finance minister discuss digital assets framework, data interoperability

ISLAMABAD:

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met Pakistan Digital Authority (PDA) Chairperson Dr Sohail Munir to discuss digital transformation, digital finance and measures to improve access to finance through technology, a statement from the Ministry of Finance said on Thursday.

Aurangzeb emphasised the importance of ensuring frameworks evolve alongside advancements in digital technology and emerging business models. Participants discussed the need for an enabling framework that recognises electronic transactions and supports wider adoption of digital processes across trade and financial activities.

The discussion covered opportunities to improve access to finance through greater use of digital platforms. The minister highlighted the importance of simplifying customer onboarding, strengthening data-sharing mechanisms and improving interoperability of financial data, including greater integration between banks and capital markets.

The meeting also discussed measures to facilitate wider participation in the capital market through digital platforms and streamlined account-opening processes. The potential for stronger integration between banking and capital-market systems was highlighted as an area that could support greater investor participation.

Participants also exchanged views on improving the use and interoperability of data across government systems. The minister highlighted the potential of better-connected data to support policy formulation, planning and decision-making, including through greater use of technology and artificial intelligence.

The meeting also covered the potential to strengthen digital infrastructure to support more efficient delivery of public and financial services. The minister stressed the importance of ensuring such initiatives are practical, scalable and aligned with broader digital transformation objectives. The minister and the PDA chairperson also discussed digital assets and tokenisation, including potential applications in areas such as real estate and other investment assets. The importance of an appropriate framework and supporting mechanisms was highlighted to facilitate responsible adoption of emerging technologies.

Aurangzeb appreciated the work being undertaken by the PDA and stressed the importance of focusing on practical, high-impact initiatives that can improve efficiency, facilitate access to finance and contribute to stronger digital capabilities across the economy.

The minister underscored the importance of sustained coordination with relevant stakeholders to advance digital initiatives, strengthen efficiency and support continued development of Pakistan's digital economy.