Pakistan’s government has started big plans to turn its national debt and investment certificates into digital tokens. The goal of new technology is to attract billions of dollars from global investors and overseas Pakistanis.
The finance minister Muhammad Aurangzeb held an important meeting on May 18, 2026. It was attended by Bilal Bin Saqib, the chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) and Omer Khan, the minister’s debt management advisor. They discussed tokenization, a new financial technology.
Tokenization means turning traditional, paper based government bonds into secure digital fractions on a blockchain network. Instead of buying a whole, expensive bond through a slow banking process, investors will soon be able to buy small, digital pieces of government savings products instantly using their smartphones.
Faster Investments for Overseas Pakistanis
The talks also covered the possible tokenization of the Naya Pakistan Certificates (NPCs), which are investment schemes used by overseas Pakistanis to send money back home. Participants noted that the Roshan Digital Account program has brought in nearly $13 billion to the economy since 2020.
Officials said that the tokenization of NPCs will skip slow international bank clearance or heavy paperwork for overseas Pakistanis who want to invest their money.
Going Beyond Regular Government Debt
The talks also explored international examples of both sovereign and “quasi-sovereign” debt tokenization.
- Sovereign debt means regular loans taken directly by the national government.
- Quasi-sovereign debt refers to money borrowed by government-linked groups, such as state-owned enterprises, development banks, or public corporations.
How the New Digital Note Works
The government is looking at a modern model called a “Digitally Native Note.” Under this system:
- A government bond is created digitally on a regulated blockchain platform the exact moment it is issued.
- This allows for same-day clearance and settlement, meaning transactions happen almost instantly.
- The system will connect smoothly with existing international clearing setups.
Big Plans to Raise $2 Billion
Earlier in January, the Ministry of Finance revealed an initial plan to tokenize up to $2 billion in domestic government debt.
Moving forward, the ministry confirmed that PVARA, the Ministry of Finance, and the State Bank of Pakistan (SBP) have agreed to work together closely on the design, safety rules, and phased development of this digital system.
