KARACHI: A team of Pakistani and French investigators on Wednesday sifted through the wreckage of a Pakistani airliner that crashed in the southern city of Karachi last Friday, searching for clues around what caused the worst airline disaster in the country in years.
Investigators were also hunting for the Airbus A320 jet’s cockpit voice recorder, said a spokesman for Pakistan International Airlines (PIA).
“The flight data recorder has been found; the cockpit voice recorder is still being traced,” PIA’s spokesman told Reuters.
Earlier, the spokesman told media the black box had been found and it contained both the data and voice recorder.
Parts of the wreckage of the A320 were removed from the site on Wednesday after extracting them from building rubble in the densely populated area where the PIA jet crashed, residents and eyewitnesses said.
PIA flight PK 8303, flying from the eastern city of Lahore crashed roughly a kilometer short of the airport runway, killing 97 of the 99 people on board.
Under international aviation rules, French investigators from the BEA — the French air safety investigation authority for civil aviation — have joined the Pakistan-led probe because the 15-year-old Airbus jet was designed in France.
Their arrival was initially hampered by widespread travel bans in force to prevent the spread of COVID-19. The French team and technical representatives of Airbus and engine maker Safran had to be flown in on an Airbus A330-900 test plane.
The French team is now helping Pakistani authorities search for the cockpit voice recorder and examining the fuselage, which plowed between buildings and was partly buried under rubble.
There have been no reported deaths on the ground.
Particular focus will be on the plane’s CFM56 engines, one of which plunged into the side of a building, according to a person close to the investigation.
The engines were made by CFM International, a joint-venture of France’s Safran and General Electric, and are among the most widely used and reliable in the airline industry.
The pilot reported both engines had failed shortly after the plane bounced and scraped along the runway in a failed initial landing attempt.
He made no reference to a landing gear problem as the aircraft followed what appeared to be a steeper-than-usual descent, according to people close to the probe. Video showed the wheels extended on the second, fatal attempt to land.
Safety experts stress it is too early to say what caused the crash.
Investigators scour Pakistan air crash site for clues and cockpit voice recorder
https://arab.news/bcrep
Investigators scour Pakistan air crash site for clues and cockpit voice recorder
- Parts of the wreckage of the A320 were removed from the site on Wednesday
- PIA flight PK 8303, flying from Lahore crashed roughly a kilometer short of the airport runway, killing 97 people
Pakistan passes Virtual Assets Act 2026, empowers regulator to combat money laundering
- Legislation introduces licensing for virtual asset service providers, market surveillance mechanisms
- Pakistan is one of the world’s top cryptocurrency markets, with millions actively using virtual assets
KARACHI: Pakistan’s parliament on Friday passed the Virtual Assets Act 2026, granting the Pakistan Virtual Assets Regulatory Authority (PVARA) powers to combat money laundering, militant financing and other illicit activities, the regulator said.
The legislation introduces regulatory provisions including mandatory licensing for virtual asset service providers, market surveillance mechanisms, anti-money laundering and counter-terrorism financing compliance, and coordination with Pakistani financial regulators including the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan.
Pakistan has in recent months stepped up efforts to draft rules for regulating the fast-expanding market for digital coins and tokens, requiring virtual asset service providers to secure government approval. Islamabad’s move to embrace digital currency marks a significant policy shift as it had banned cryptocurrency in 2018, citing financial risks.
“A year ago, Pakistan’s digital asset landscape was defined by uncertainty and grey areas. Today, we have the country’s first Act of Parliament establishing a regulatory body for virtual assets, building on the Presidential Ordinance introduced in 2025,” PVARA Chairman Bilal bin Saqib said in a post on X.
“With NOCs [no objection certificates] already issued and banking rails being developed in coordination with the State Bank of Pakistan, we are now moving toward a comprehensive licensing framework aligned with global AML [anti-money laundering] and financial integrity standards.”
Meanwhile, PVARA said the framework aims to boost transparency, protect investors, and ensure a stable, trustworthy virtual asset market while supporting responsible fintech innovation.
“The legislation also equips the Authority with powers to address money laundering, terrorist financing, and other illicit activities associated with virtual assets, bringing Pakistan’s regulatory approach in line with international standards,” it added.
Pakistan ranks among the world’s largest cryptocurrency markets by adoption, with millions of citizens actively engaged in virtual assets.
In February, Dr. Afnanullah Khan, a Pakistani senator from the ruling party, had said major crypto coins such as Bitcoin, Ethereum and XRP will soon be traded in Pakistan through crypto exchanges.
Pakistan earlier launched a “regulatory sandbox” for firms to trial crypto services under PVARA’s supervision before full approval.
In January, Pakistan signed a memorandum of understanding with a World Liberty Financial-linked firm, tied to US President Donald Trump’s family, to explore a dollar-backed stablecoin for cross-border payments.
