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
https://arab.news/ppgzs
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
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.”
Saudi Wafi Energy hires top stratcom firm to build ‘trusted presence’ in Pakistan
- Wafi Energy Pakistan partners with Nutshell Communications to enhance its brand position in country
- Saudi fuel company made headlines last year when it acquired majority shares of Shell Pakistan Limited
ISLAMABAD: Saudi Arabia’s leading fuel station company, Wafi Energy Pakistan, this week announced its partnership with public relations and advocacy firm Nutshell Communications to enhance its presence in the South Asian country.
Wafi Energy, an affiliate of the Asyad Group, made headlines last year when it became the majority shareholder of Shell Pakistan Limited (SPL) in November 2024. It now holds approximately 87.78 percent of the total issued share capital of SPL. However, the Shell brand will remain in Pakistan through retail and brand licensing agreements, with SPL as the exclusive brand licensee.
Wafi Energy announced it had partnered with Nutshell Communications, which says on its website it offers clients integrated PR, full spectrum marketing and communications services to build its brand’s reputation.
“Nutshell Communications are experts at strategic communications and brand positioning,” Wafi Energy Pakistan CEO Zubair Shaikh was quoted in a press release issued by Nutshell Communications. “This partnership will play a key role in helping us build a strong, trusted presence in Pakistan’s energy landscape.”
Shaikh said the company aimed to invest in sustainable fuel and lubricants solutions, and advancing infrastructure to support Pakistan’s evolving energy needs.
Nutshell Group Chairman Azfar Ahsan reaffirmed his firm’s resolve to support transformative industry collaborations.
“Global partnerships are essential to strengthen Pakistan’s economic resilience and energy independence,” Ahsan was quoted as saying. “Wafi Energy Pakistan’s presence significantly enhances Pakistan’s regional standing, and we are committed to nurturing this partnership toward continued growth and mutual success.”
Pakistan and Saudi Arabia have moved in recent months to further strengthen trade and investment ties. Pakistani and Saudi businesses signed several agreements and memoranda of understanding (MoUs) in October 2024 worth $2.8 billion.
Islamabad is also eyeing Saudi investment in key sectors such as oil and gas, renewable energy, mining and minerals, infrastructure and others to keep its fragile $350 billion economy afloat.
Pakistan top parliamentary panel on national security to meet today amid rising militant attacks
- Pakistan military to hold in-camera briefing of parliamentary committee on country’s prevalent security situation
- Meeting takes place after separatist militants stormed train in Balochistan last week, held over 400 passengers hostage
ISLAMABAD: Pakistan’s Parliamentary Committee on National Security will hold an in-camera meeting today, Tuesday, to discuss surging attacks in the country’s western provinces bordering Afghanistan and Iran, particularly Balochistan.
The meeting takes place amid a sharp rise in militant attacks last week in Pakistan’s southwestern Balochistan province. The most prominent of these attacks was led by the separatist Baloch Liberation Army (BLA) outfit last Tuesday, whose fighters stormed the Jaffar Express train in a remote mountain pass in Balochistan and held over 400 passengers hostage. The military launched an operation and after a day-long stand-off, rescued 354 hostages and killed 33 insurgents. A final count showed 23 soldiers, three railway employees and five passengers had died in the attack.
Violence persisted in the southwestern province as three paramilitary soldiers were among five killed in a suicide blast in Balochistan’s Nushki district on Sunday. The escalation in attacks prompted Speaker National Assembly Sardar Ayaz Sadiq to convene a session of the parliamentary panel on Tuesday at Prime Minister Shehbaz Sharif’s advice.
“An in-camera meeting of the Parliamentary Committee on National Security will be held at the Parliament House in Islamabad at 11 a.m. today,” state broadcaster Radio Pakistan reported.
The state-run media said a “comprehensive briefing” on the country’s security situation will be given to committee members by the military leadership, which would include parliamentary leaders from all political parties and members of the federal cabinet.
Oil-and-mineral-rich Balochistan, Pakistan’s largest and least populated province, has been plagued by a long-running, low-level insurgency where ethnic Baloch separatists accuse the central government of denying locals of a share in the province’s resources. Islamabad and Pakistan’s military strongly reject the allegations.
The military has a huge presence in Balochistan and has long run intelligence-based operations against insurgent groups such as the BLA, who have escalated attacks in recent months on the military and nationals from longtime ally China, which is building key projects in the region, including a port at Gwadar.
More than 50 people, including security forces, were killed in August last year in a string of assaults in Balochistan claimed by the BLA.
Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province bordering Afghanistan has also seen a sharp rise in militant attacks since November 2022, when a fragile truce between the state and the Pakistani Taliban or the Tehreek-e-Taliban Pakistan (TTP) broke down.
The TTP has carried out some of the deadliest attacks against Pakistan’s security forces and civilians since 2007 in KP.
Pakistan accuses the Afghan government of sheltering TTP militants, allegations which have strained ties between the two neighbors and prompted strong denials from Kabul.
