ISLAMABAD: A senior Pakistan Muslim League-Nawaz (PMLN) leader said on Tuesday there were mixed reactions within the party’s rank and file for its decision to lend support to the government over a law which would secure a three-year extension for Pakistan’s military chief.
A number of senior party figures had also questioned the party’s decision to support the bill, PML-N Chairman Raja Zafarul Haq told Arab News declining to name any of the dissidents.
At last week’s parliamentary meeting of lawmakers from the PML-N, “one person, I will not name him, said that the law will only be amended as per the doctrine of necessity, temporarily; this will not be a permanent solution,” Haq said.
The government of Prime Minister Imran Khan approved an extension for General Qamar Javed Bajwa in August 2019, citing a worsening national security situation in the region over its rivalry with India.
But in a surprise ruling, the Supreme Court struck down the extension in November, ordering the government and army to produce legal provisions and arguments on the reasoning behind the move, pitting the judiciary against the government and powerful military.
On Tuesday, the National Assembly passed three bills to legalize tenure extensions for the army, navy and air force chiefs. Their appointments, reappointments and extensions will now be the prerogative of the prime minister and cannot be challenged in a court of law.
Shahid Khaqan Abbasi, Pakistan’s former prime minister and a jailed PML-N leader, told reporters on Monday that “there are flaws in the law [Pakistan Army Amendment Act 2020].”
“Such bills are made for the future, they should be examined carefully,” he said.
Mixed reaction in party ranks after PML-N supports to amend Army Act
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Mixed reaction in party ranks after PML-N supports to amend Army Act
- Party chairman says aware of dissent over a law which would secure three-year extension for army chief
- On Tuesday, the National Assembly passed three bills to legalize tenure extensions for the army, navy and air force chiefs
Pakistan launches crypto testing framework to regulate digital assets
- Regulatory ‘sandbox’ to let firms test crypto products under supervision
- Move comes amid broader push to formalize Pakistan’s digital asset sector
ISLAMABAD: Pakistan’s Virtual Assets Regulatory Authority (PVARA) on Friday launched a crypto testing framework to regulate digital assets, allowing firms to trial new products and services under official supervision.
The initiative, formally structured as a regulatory “sandbox,” creates a controlled environment where companies can test crypto-related services under the oversight of the regulator before full-scale approval.
According to PVARA, the sandbox will support real-world use cases including tokenization, stablecoins, remittances and on- and off-ramp infrastructure.
Tokenization refers to converting real-world assets into digital tokens on a blockchain, while stablecoins are cryptocurrencies pegged to a fiat currency to maintain a stable value. On- and off-ramp infrastructure allows users to convert between fiat money and digital assets, enabling the practical use of virtual asset products.
“The Pakistan Virtual Assets Regulatory Authority has formally approved and launched its Regulatory Sandbox for virtual assets,” PVARA said in a post on X. “Sandbox Guidelines and the application process will be published shortly on our website.”
The move comes as the government seeks to build a formal regulatory framework for digital assets while attracting investment and strengthening oversight of the sector.
Pakistan has stepped up efforts recently to regulate its digital asset sector and is exploring digital currency initiatives as part of broader measures to reduce cash usage.
In January, Pakistan signed a memorandum of understanding with a company affiliated with World Liberty Financial, a crypto-based finance platform launched in September 2024 and linked to US President Donald Trump’s family to explore the use of a dollar-linked stablecoin for cross-border payments.
