Finance minister says cabinet approval is being sought for Eurobond tokenisation RFP
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What happened
Muhammad Aurangzeb said the government is examining tokenisation of Pakistan's outstanding Eurobond debt and plans to seek cabinet approval before launching a request for proposals.
Why it matters
A sovereign statement on tokenising existing external debt can alter expectations for Pakistan's funding toolkit, dealer positioning, and the regulatory work needed from debt managers, the central bank, and market supervisors. Because the proposal concerns outstanding Eurobonds rather than a private pilot, the next administrative steps could shape how investors price execution, legal structure, and settlement arrangements.
Finance Minister Muhammad Aurangzeb said on November 2 that the government is reviewing tokenisation of Pakistan's existing Eurobond debt and will seek cabinet approval before issuing a request for proposals. The statement was made at a banking-sector forum and amounts to an official policy signal on a possible new sovereign financing channel. The next near-term milestone is whether the cabinet authorizes the move and whether the finance ministry follows with a formal RFP and related regulatory coordination.
Watch for
Federal Cabinet agenda or post-meeting release on approval for a Eurobond tokenisation RFP by 2026-11-06 Ministry of Finance issuance of a request for proposals naming advisors, arrangers, or technology partners by 2026-11-06 State Bank of Pakistan communication on regulatory treatment, settlement rails, or bank participation in sovereign tokenised debt by 2026-11-06 Pakistan Stock Exchange or CDNS-linked market infrastructure statement on custody or depository readiness for tokenised sovereign instruments by 2026-11-06
Sources
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