First Chinese dispatch against locust emergency arrives in Pakistan

China aids of 50,000 liters of malathion and 14 pesticide sprayers for locust plague prevention & control and 12,000 more coronavirus testing kits arrived in Pakistan on March 9, 2020. (Courtesy: Chinese embassy Pakistan)
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Updated 10 March 2020
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First Chinese dispatch against locust emergency arrives in Pakistan

  • Chinese experts earlier visited Pakistani provinces worst hit by huge locust swarms
  • The first dispatch carries 50,000 liters of pesticides and 14 air-powered sprayers

ISLAMABAD: First batch of pesticides and other supplies from China arrived in Karachi, on Monday, to help Pakistan deal with its locust emergency.

The consignment include 50,000 liters of pesticides and 14 air-powered high-efficiency remote sprayers, and follows a visit by a Chinese team of experts last month, state run media said.

Pakistan declared a national emergency in February after the food ministry issued a warning that the country was facing its worst locust infestation in two decades.

It led to Pakistan and the FAO (UN’s agency for Food and Agriculture) joining hands on February 25 to tackle the issue.

In a meeting with Federal Minister for National Food Security and Research, Makhdoom Khusro Bakhtiar on Feb 25, FAO representative in Pakistan, Minà Dowlatchahi, discussed the options for chemical and biological control measures and a locust surveillance system introduced by the FAO.

Bakhtiar appreciated the efforts of FAO and “stressed on the need for developing an integrated work plan for controlling the locust without any time lag,” FAO said in a statement.

The emergency pesticide deployment from China is not unwarranted: home-grown cotton – which is being destroyed by the locust attacks – runs Pakistan’s textile industry which is its largest job provider and foreign exchange earner. 

Desert locusts or short-horned grasshoppers, are the oldest migratory pests in the world. They have a high capacity to multiply, form groups, migrate over relatively large distances and, if ecological conditions become favorable, rapidly reproduce.

From the Red Sea coast of Sudan and Eritrea, the locusts first emerged in January this year. By February, they had swarmed Saudi Arabia and Iran before entering Pakistan’s southwestern Balochistan province in March. 

Pakistani authorities estimate that locust attacks have damaged around 80,000 hectares of crop and pastures in Sindh and Balochistan and have also affected areas in Dera Ismail Khan in the Khyber Pakhtunkhwa province.
 
The last major locust infestations in Pakistan were recorded in 1993 and 1997, though the government lacks credible statistics to quantify the damage caused in both instances.


Pakistan clears global crypto exchanges Binance, HTX under new regulatory framework

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Pakistan clears global crypto exchanges Binance, HTX under new regulatory framework

  • NOCs allow Binance, HTX to conduct engagement activities within Pakistan, says regulator PVARA
  • Says move allows entities to open subsidiaries in Pakistan but doesn’t constitute as operating license

ISLAMABAD: The Pakistan Virtual Assets Regulatory Authority (PVARA) announced on Friday that it has granted no objection certificates (NOCs) to global crypto exchanges Binance and HTX, the latest in a series of moves by Islamabad to regulate its fast-growing virtual assets market. 

PVARA said the NOCs were granted following a review process it conducted with public sector stakeholders which focused on governance structures, compliance frameworks, risk management controls and alignment with Pakistan’s emerging regulatory requirements for virtual asset activities.

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.

“The introduction of this structured NOC framework demonstrates Pakistan’s commitment to responsible innovation and financial discipline,” Finance Minister Muhammad Aurangzeb was quoted as saying in a press release issued by PVARA. 

The regulatory authority said the NOCs allow Binance and HTX to conduct preparatory and engagement activities within Pakistan under “defined regulatory oversight,” clarifying that it does not constitute a “full operating license.”

The NOCs allow Binance and HTX to begin registration on the FMU goAML, Pakistan’s anti–money laundering reporting platform, as reporting entries. It also allows them to engage with the Securities and Exchange Commission of Pakistan (SECP) regulator to incorporate their subsidiaries in the country. 

HTX and Binance can also prepare and submit their full VASP license applications once licensing regulations are promulgated and provide anti-money laundering (AML) registered services after the completion of their goAML registration.

“PVARA will continue to engage with domestic and international stakeholders as it advances subsequent phases of its regulatory framework,” the authority said. 

“Additional guidance regarding licensing standards, compliance obligations and supervisory expectations for virtual asset service providers will be issued in due course.”

Chairman PVARA Bilal Bin Saqib said issuing the NOCs marks the first step toward a fully licensed and regulated environment for digital assets in Pakistan. 

“By adopting a phased and internationally aligned approach, Pakistan is ensuring that only well-governed, fully compliant global platforms progress toward full licensing,” Saqib was quoted as saying by PVARA.

According to PVARA, Pakistan already ranks at number three in crypto adoption and is home to an estimated 30 to 40 million users.

It said industry-wide assessments estimate that annual digital asset trading activity linked to Pakistan exceeds $300 billion. 

The development takes place days after Prime Minister Shehbaz Sharif met a delegation of Binance in Islamabad, led by its CEO Richard Teng, to discuss regulating digital assets in Pakistan.