KARACHI: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Friday his country wanted to be a leader in digital finance as the government officially launched the Pakistan Crypto Council to establish regulatory guidelines for crypto adoption.
The newly established council is a government-backed initiative that seeks to integrate blockchain and cryptocurrency innovations into Pakistan’s financial and economic framework. Led by key policymakers, regulatory heads and industry experts, it plans to establish a progressive digital asset ecosystem.
The government’s decision to launch the council marks a shift in Pakistan’s stance on cryptocurrencies, moving from previous resistance to a more open and regulatory-focused approach.
“The world is moving rapidly toward digital finance, and Pakistan wishes to be a leader in the space,” an official statement circulated after the launch quoted the finance minister as saying.
“The establishment of the Pakistan Crypto Council is a step toward embracing innovation while ensuring that we create a regulatory framework that protects investors and the financial system,” he continued. “We are committed to fostering a responsible and progressive crypto ecosystem that can contribute to Pakistan’s economic growth.”
Earlier this month, the government appointed Bilal Bin Saqib as lead adviser to the finance minister to develop policy measures ahead of adopting digital currencies.
Saqib will serve as the council’s CEO, bringing his expertise in blockchain technology, investment strategy and digital innovation to spearhead the initiative.
“Our goal is to ensure that Pakistan becomes a competitive player in the global digital economy while prioritizing security, transparency and innovation,” he said at the launch. “By bringing together key stakeholders, we aim to strike a balance between progressive policymaking and fostering an environment where entrepreneurs and businesses can confidently explore the potential of blockchain technology.”
As the council begins operations, it aims to prioritize engagement with international crypto and blockchain organizations to ensure best practices.
It will also collaborate with fintech startups, investors and blockchain developers to encourage responsible innovation and safeguard consumers through a strong legal and compliance framework.
Pakistan eyes leadership in digital finance as it launches crypto council to regulate digital assets
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Pakistan eyes leadership in digital finance as it launches crypto council to regulate digital assets
- The council will help integrate blockchain innovations into Pakistan’s financial framework
- Pakistan’s finance chief says government wants responsible crypto ecosystem for economic growth
Emirates Red Crescent, UAE consulate distribute food rations among thousands in Pakistan
- UAE consulate, Emirates Red Crescent distribute food rations and iftar boxes in rural areas of Sindh, Balochistan and KP
- Muslims fast from dawn to dusk and increasingly engage in the remembrance of the Almighty in Ramadan every year
ISLAMABAD: The UAE arm of the International Red Cross, the Emirates Red Crescent, is distributing thousands of food rations with the UAE consulate in Karachi among the impoverished in various parts of Pakistan, a statement from the consulate said on Tuesday.
Every year the Emirates Red Crescent distributes iftar boxes and food rations in Pakistan during the holy month of Ramadan, during which Muslims fast from dawn to dusk and increasingly engage in the remembrance of the Almighty.
“According to UAE Consul General Bakheet Ateeq Al Remeithi, the distribution of ration and iftar boxes is continuing in the rural and backward areas of Sindh, Balochistan and Khyber Pakhtunkhwa (provinces),” the UAE consulate said in a statement.
The statement said food rations and iftar boxes were being distributed in Sindh’s Khairpur, Nawabshah, Ghotki, Sukkur and Sanghar districts. Meanwhile in Balochistan, food rations and iftar boxes were being distributed among the poor in the districts of Gwadar, Pasni, Panjgur and other adjoining areas.
“Thousands of people will continue to be part of this journey of love and happiness on a daily basis during the month of Ramadan, through rations and iftar spreads,” Remeithi was quoted as saying by the consulate.
He said the first priority of the Emirates Red Crescent is to distribute high quality food and drink items, and iftar boxes and rations prepared in accordance with the highest standards of hygiene.
“The series of love that begins with the month of Ramadan will double the joy of Eid Al-Fitr,” Remeithi said.
Pakistan PM to meet Saudi crown prince during official visit to the kingdom starting tomorrow
- The two leaders will discuss ways to boost trade and enhance partnership in key economic sectors
- Pakistan’s foreign office says they will also deliberate on global developments, including the Gaza situation
ISLAMABAD: Prime Minister Shehbaz Sharif is scheduled to meet Saudi Crown Prince Mohammed bin Salman during his official visit to Saudi Arabia starting tomorrow, the foreign office in Islamabad said on Tuesday, to discuss ways to further enhance bilateral trade and strengthen collaboration in key economic sectors.
The two countries have enjoyed close defense, diplomatic, political and cultural relations, though they have consolidated their ties further in recent years as Islamabad grappled with a prolonged economic crisis and sought the kingdom’s help.
Pakistan has tried to strengthen business-to-business (B2B) ties with the Kingdom, with both sides announcing during Prime Minister Shehbaz Sharif’s visit to Riyadh last October they had signed 34 memorandums of understanding and agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships.
“Prime Minister Muhammad Shehbaz Sharif will undertake an official visit to the Kingdom of Saudi Arabia from 19-22 March 2025,” the foreign office said. “The visit aims to strengthen bilateral ties, enhance economic cooperation and promote investment between the two countries.”
“During the visit, the Prime Minister is scheduled to meet Saudi Crown Prince and Prime Minister Mohammed bin Salman,” it added. “The leaders will discuss and deliberate upon ways to boost trade, enhance partnership in key sectors and facilitate greater economic collaboration.”
Sharif will be accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, along with key federal ministers and senior officials. The delegation is expected to engage with Saudi counterparts to explore new avenues of investment and economic cooperation.
According to the foreign office statement, discussions will also cover regional and global developments, including the Gaza situation, evolving Middle East dynamics and broader issues concerning the Muslim Ummah.
Saudi Arabia presents a key export opportunity for Pakistani businesses, given its strong consumer demand and ambitious Vision 2030 economic reforms that emphasize diversification and foreign investments.
Pakistan has a 2.7 million-strong diaspora in Saudi Arabia, which accounts for the highest remittance inflow, a crucial lifeline for the country’s economy.
Last month, Pakistan’s commerce minister, Jam Kamal Khan, inaugurated the country’s first-ever solo “Made in Pakistan” exhibition in Jeddah, informing participants that over 1.7 million Pakistani workers had migrated to the Kingdom in the past five years, making it the top destination for Pakistani emigrants.
Unsettled after deadly separatist attacks, Quetta residents opt out of Ramadan Eid shopping
- Vehicle laden with explosives driven into paramilitary convoy in Nushki on Sunday, killing five
- BLA hijacked train in Balochistan on March 11 in an attack that killed 31 soldiers and civilians
QUETTA: Residents of Quetta, the capital of Pakistan’s southwestern Balochistan province, expressed concerns about safety this week and many opted not to go out for Ramadan and Eid shopping amid heightened security following a string of deadly separatist attacks.
The Balochistan Liberation Army claimed responsibility for a deadly attack in Nushki district on Sunday, where a vehicle laden with explosives was driven into a paramilitary convoy, killing at least five and wounding over 30.
The attack comes just days after the BLA hijacked the Jaffar Express train in Balochistan on March 11, blowing up train tracks in an attack that killed 31 soldiers and civilians, the military said. The BLA is the largest and strongest of several ethnic Baloch insurgent groups which have been fighting for decades to win independence for the mineral-rich province, home to major China-led projects including a port and gold and copper mines.
In the background of the latest attacks, Quetta residents said they were opting to stay indoors rather than venturing out for Ramadan Eid shopping, citing persistent fears of terrorism and violence, according to local resident Navid Khan.
“During Ramadan’s Eid shopping season, many people still have pending purchases, but the deteriorating law and order situation has made it daunting to venture out.” Khan said. “Fear of terrorism incidents, target killings, and other violent acts persist, despite active security measures. As a result, we feel safer staying indoors, rather than risking our safety outside.”
The city of Quetta remains on high alert, with multiple checkpoints established and a heavy deployment of security personnel. The Zehri Flyover, situated behind Quetta Cantonment, has been closed until further notice due to security concerns.
A Balochistan provincial assembly member, Zmarak Khan Achakzai, warned that the region’s situation was spiraling out of control, urging the federal government to safeguard citizens’ rights and provide access to resources, equal rights, and job opportunities to prevent desperation-driven extremism.
“It’s a two-way street — the people must accept the state, and the state must acknowledge and empower its people,” the MP said.
“But unfortunately, employment is scarce, leaving our educated youth with no prospects. With borders tightly controlled, those living on the border are struggling to survive, unable to feed their children,” Achakzai added.
“What options do they have? They’ll turn to drugs, crime, or fall prey to anti-state elements and enemies of the country. We urge you to focus on Balochistan, home to 15 million people, nearly 6 percent of Pakistan’s population. What is it that we lack? What can’t we handle?“
Pakistan’s parliamentary committee on national security is set to convene an in-camera meeting today, Tuesday, where the military leadership will brief lawmakers on the country’s current security situation.
Pakistan, Bahrain military leaders discuss regional security, bilateral cooperation
- General Sheikh Mohammed Bin Isa Bin Salman Al Khalifa, commander of National Guard of Bahrain, meets Pakistan’s army chief
- General Syed Asim Munir stresses importance of collaborating to address shared security challenges, maintaining regional peace
ISLAMABAD: The top military officials of Pakistan and Bahrain discussed regional security and ways to strengthen bilateral military cooperation to meet security challenges, Pakistan’s military said on Tuesday.
General Sheikh Mohammed Bin Isa Bin Salman Al Khalifa, the commander of the National Guard of Bahrain, met Pakistan’s Army Chief General Syed Asim Munir at the General Headquarters (GHQ) in Rawalpindi, the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing, said.
Al Khalifa praised Pakistan Army’s professionalism and appreciated their efforts in combating “terrorism,” the ISPR said.
“During the meeting, both leaders engaged in discussions on matters of mutual interest, the regional security landscape, and avenues for strengthening bilateral military cooperation,” the military’s media wing said.
Munir underscored the significance of enhanced collaboration in addressing shared security challenges and fostering peace and stability in the region, the ISPR added.
Bahrain is a key member of the Gulf Cooperation Council (GCC), and a favorite destination for the Pakistani workforce since the early 1970s, according to Pakistan’s foreign ministry.
Pakistan enjoys cordial relations with Gulf countries and regularly partakes in bilateral military drills with them to foster joint cooperation to counter security challenges.
Both countries have established a Joint Ministerial Commission (JMC) at the level of the foreign ministers, with the Pakistan-Bahrain trade volume between $500 million and $1 billion in recent years, as per Pakistan’s foreign ministry.
Pakistan anti-graft body seals several properties of real estate developer for ‘defrauding’ citizens
Pakistan anti-graft body seals several properties of real estate developer for ‘defrauding’ citizens
- M/s Bahria Town, which claims to be Asia’s largest private real estate developer, has several projects in Islamabad, Lahore, Karachi and other Pakistani cities
- Pakistan’s National Accountability Bureau last month booked Bahria Town owner Malik Riaz Hussain in a graft case, initiated process to extradite him from Dubai
ISLAMABAD: Pakistan’s anti-corruption watchdog has sealed numerous properties of a private real estate developer, M/s Bahria Town, for “defrauding people of billions of rupees,” Pakistani state media reported on Monday.
M/s Bahria Town, which claims to be Asia’s largest private real estate developer, has projects in several cities, including Islamabad, Lahore and Karachi, in the South Asian country.
Pakistan’s National Accountability Bureau (NAB) said it had registered several cases of fraud and deception against Bahria Town owner Malik Riaz Hussain and others in Islamabad and Karachi courts, the Radio Pakistan broadcaster reported.
Hussain and his associates are accused of illegally occupying both government and private lands in Karachi, Rawalpindi and New Murree to establish housing societies without permission and defrauding people of billions of rupees.
“In recent actions related to this, numerous commercial and residential properties of Bahria Town in Karachi, Lahore, Takht Pari, New Murree/Golf City, and Islamabad have been sealed, including multi-story commercial buildings,” the Radio Pakistan report read.
“Additionally, hundreds of bank accounts and vehicles of Bahria Town have been frozen, and further actions in this regard are being carried out rapidly.”
There was no immediate comment from Bahria Town in response to NAB’s allegations.
The development comes more than a month after NAB filed a reference in an accountability court in Karachi, nominating Hussain, his son Ahmed Ali Riaz, former Sindh chief minister Syed Qaim Ali Shah and Sharjeel Inaam Memon, then local body minister and now information minister of Sindh, among 33 people for illegally transferring government land to M/s Bahria Town for its Bahria Town Karachi project in 2013 and 2014.
Hussain, who currently lives in Dubai, is one of Pakistan’s wealthiest and most influential businessmen and the country’s largest private employers. The anti-graft body this year said it had initiated the process to seek Hussain’s extradition from the United Arab Emirates (UAE), who was also charged in another land corruption case involving former prime minister Imran Khan and his wife.
A Pakistani court in January sentenced Khan to 14 years in prison and his wife, Bushra, to seven years, in the case in which they are accused of receiving land as a bribe from Hussain through the Al-Qadir charitable trust in exchange for illegal favors during Khan’s premiership from 2018 to 2022. Khan says he and his wife were trustees and did not benefit from the land transaction. Hussain too denies any wrongdoing relating to the case.
Hussain has recently launched a new project of luxury apartments in Dubai and NAB has prima facie evidence that certain individuals from Pakistan are illegally aiding him in this process by transferring their money to the UAE for investment in the project. These funds have been sent to foreign countries through “illegal means,” Radio Pakistan reported, citing the anti-graft body.
“Any funds transferred from Pakistan for this project will be considered money laundering, and legal action will be taken against the involved elements without discrimination,” the anti-corruption watchdog was quoted as saying.
“NAB will continue its legal actions against Bahria Town Pakistan without any delay or pressure to fully protect the rights of the citizens of Pakistan.”
