ISLAMABAD: As part of measures to ensure the seamless participation of overseas Pakistanis in the upcoming by-elections, the Election Commission of Pakistan (ECP) on Friday began issuing passcodes to voters registered with the i-voting system.
According to media reports, only 7,419 people have successfully registered for the program so far, even though more than 790,000 Pakistanis live abroad and 631,909 are eligible to use the system.
The online voting initiative was developed this year to grant voting rights to overseas Pakistani, but was not fully functional during the general elections in July. The polls on Sunday will enable the authorities to test the system for the first time on a relatively small scale.
The ECP said that the codes would be valid during voting hours in Pakistan. All registered voters will be able to cast their ballot after logging onto the website, sharing their required credentials and entering the individual passwords.
Earlier this week, Prime Minister Imran Khan described the overseas Pakistanis as an 'asset' for the nation, assuring them of their rights and promising to extend every possible facility in recognition of their services to the country.
The new voting facility finally address the longstanding demand of overseas nationals to have a say in the political framework of the country.
ECP issues voting codes to overseas Pakistanis
ECP issues voting codes to overseas Pakistanis
- More than 7,000 have registered to vote in Sunday’s by-polls
- Numbers are disappointing considering the fact that 790,000 make up overall population
Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects
- Pakistani officials, Binance team discuss coordination between Islamabad, local banks and global exchanges
- Pakistan has attempted to tap into growing crypto market to curb illicit transactions, improve oversight
ISLAMABAD: Pakistan’s finance officials and the team of a global cryptocurrency exchange on Friday held discussions aimed at modernizing the country’s digital payments system and building local talent pipelines to meet rising demand for blockchain and Web3 skills, the finance ministry said.
The development took place during a high-level meeting between Finance Minister Muhammad Aurangzeb, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib, domestic bank presidents and a Binance team led by Global CEO Richard Teng. The meeting was held to advance work on Pakistan’s National Digital Asset Framework, a regulatory setup to govern Pakistan’s digital assets.
Pakistan has been moving to regulate its fast-growing crypto and digital assets market by bringing virtual asset service providers (VASPs) under a formal licensing regime. Officials say the push is aimed at curbing illicit transactions, improving oversight, and encouraging innovation in blockchain-based financial services.
“Participants reviewed opportunities to modernize Pakistan’s digital payments landscape, noting that blockchain-based systems could significantly reduce costs from the country’s $38 billion annual remittance flows,” the finance ministry said in a statement.
“Discussions also emphasized building local talent pipelines to meet rising global demand for blockchain and Web3 skills, creating high-value employment prospects for Pakistani youth.”
Blockchain is a type of digital database that is shared, transparent and tamper-resistant. Instead of being stored on one computer, the data is kept on a distributed network of computers, making it very hard to alter or hack.
Web3 refers to the next generation of the Internet built using blockchain, focusing on giving users more control over their data, identity and digital assets rather than big tech companies controlling it.
Participants of the meeting also discussed sovereign debt tokenization, which is the process of converting a country’s debt such as government bonds, into digital tokens on a blockchain, the ministry said.
Aurangzeb called for close coordination between the government, domestic banks and global exchanges to modernize Pakistan’s payment landscape.
Participants of the meeting also discussed considering a “time-bound amnesty” to encourage users to move assets onto regulated platforms, stressing the need for stronger verifications and a risk-mitigation system.
Pakistan has attempted in recent months to tap into the country’s growing crypto market, crack down on money laundering and terror financing, and promote responsible innovation — a move analysts say could bring an estimated $25 billion in virtual assets into the tax net.
In September, Islamabad invited international crypto exchanges and other VASPs to apply for licenses to operate in the country, a step aimed at formalizing and regulating its fast-growing digital market.
