ISLAMABAD: Turkish President Recep Tayyip Erdogan on Friday addressed a joint session of Pakistan parliament, offering unflinching support on issues confronting Islamabad including Kashmir and scrutiny by Financial Action Task Force (FATF).
Erdogan arrived in Pakistan on a two-day official visit on Thursday, accompanied by his wife and a high-powered delegation of officials and businessmen.
In his address to Pakistani lawmakers, he also rejected US President Donald Trump’s Middle East peace plan to resolve the Israel-Palestine conflict.
“Today, the issue of Kashmir is as close to us as it is to you [Pakistanis],” he said while addressing the joint session of the parliament for a record fourth time in Islamabad.
“Kashmir issue can be resolved not through conflict or oppression but through justice and fairness,” he said. “Turkey will continue to stand by justice, peace and dialogue for the resolution of the Kashmir issue.”
The Kashmir dispute attracted international spotlight in August last year when India revoked the special constitutional status of Indian-administered Kashmir and placed more than eight million Kashmiris under a strict curfew to prevent any protests against the decision in the Muslim-majority state — bringing he two countries to the brink of war.
The Turkish president also lauded Pakistan’s efforts to rid the region of terrorism and the country’s contribution to the ongoing peace process in Afghanistan.
“Pakistan and Turkey are two countries that are most affected by terrorism due to their geographic location,” he said. “We will continue to cooperate with Pakistan on counter-terrorism.”
Erdogan also vowed Ankara’s support to Islamabad over FATF – an intergovernmental body responsible for combating money-laundering and terror financing – that placed Pakistan on its grey-list in June 2018 for “structural deficiencies” in financial framework. The watchdog is expected to decide next week in its plenary in Paris whether Pakistan’s name could be removed from its grey-list or further downgraded to the blacklist.
Pakistan requires at least 12 votes to get off the grey-list and three votes out of 37 to avoid blacklisting, so Turkey’s support along with other friendly countries will prove crucial to Islamabad.
“Pakistan is on the way to peace and stability: Peace and stability don’t come in a few days and require work,” he said.
During his address, the Turkish president also referred to Donald Trump’s “deal of the century” to resolve the Israel-Palestine conflict. “This is not a peace plan, but in fact a project for occupation,” he said.
“Jerusalem is our red line. We have declared to the whole world that we will not leave Haram Al-Sharif to the mercy of the occupying Israeli administration,” he added.
Recalling historic relationship with Pakistan, Erdogan thanked the South Asian nation for helping the people of Turkey in difficult times.
“We have never forgotten and will not forget the help, which the Pakistani people delivered, during our War of Independence by piling up their own bread,” he said.
During Erdogan's visit, Pakistan and Turkey signed a string agreements, including on cooperation between state-run broadcasters, customs, halal certification, and a declaration of economic framework to increase bilateral trade. They also inked memoranda of understanding in the defense and energy sectors.
Turkish president addresses Pakistan parliament, pledges support on Kashmir
https://arab.news/gbj3a
Turkish president addresses Pakistan parliament, pledges support on Kashmir
- Erdogan is on a 2-day official visit to Islamabad
- He also rejected Trump’s ‘deal of the century’ calling it an occupation plan
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.
