ISLAMABAD: The spokesman of the Pakistan mission in Riyadh said on Thursday Saudi businessmen had shown “keen interest” in investing in Pakistan’s power, housing and hospitality sectors.
On August 9, the Pakistan Embassy convened a business meeting of Saudi and Pakistani investors based in Saudi Arabia with Pakistan’s ambassador to Riyadh, Raja Ali Ejaz.
Speaking about the meeting, embassy spokesperson Dr. Mudassar Cheema said: “They [Pakistani and Saudi investors] were interested to make investment in Pakistan in the sectors of housing, construction, hotel and hospitality and power generation.”
Cheema said the investors also spoke about problems they had faced in doing business with Pakistan, including with remittances and tax regimes.
“Post COVID, exporters faced many challenges including loss of contracts, lockdown and labor issues,” Cheema said in a phone interview, adding that the embassy would arrange online meetings between investors and Pakistani government departments and officials so interested business groups could learn about public sector organizations in Pakistan.
“The trade minister of the embassy will arrange online meetings of these investors with federal and provincial Board of Investments, Trade Development Authority, Faisalabad Investment Estate Development and Management Company and concerned Chambers of Commerce,” Cheema added. “To explore opportunities in [port city of] Gwadar, a meeting will be arranged with Balochistan Board of investment and other concerned people very soon.”
He also said the mission would arrange for business delegations from Saudi Arabia to visit Pakistan to explore opportunities at the earliest possible date.
“The ambassador, Raja Ali Ejaz assured full support and cooperation to investors from the Embassy of Pakistan,” Cheema said. “The ambassador has conveyed that post COVID, all Pakistanis must put efforts to regain market of Saudi Arabia.”
Chairman of the Pakistan Investor Forum, Raja Khalid, who was part of the delegation that visited the embassy on August 9, said the Pakistani government must clarify policies related to taxation and other incentives so that businesses could invest without reservation.
“Many businessmen, both Saudis and Pakistani origin, who have established businesses in the Kingdom wanted to invest, especially in the housing sector and Gwadar, but we need a clear picture regarding taxation and other incentives,” Khalid told Arab News. “We will follow up with the embassy regarding this as they promised to arrange our online meetings with relevant departments in Pakistan.”
Saudi businesses keen to invest in Pakistani housing, power, hotels
https://arab.news/y78sz
Saudi businesses keen to invest in Pakistani housing, power, hotels
- Kingdom-based Pakistani and Saudi investors met with Pakistan’s ambassador to Riyadh on Aug 9
- Discuss new investment opportunities, businessmen apprise ambassador about problems with remittances and taxes
Pakistan’s Senate passes bill to regulate virtual assets, protect investors
- PVARA chairman terms the approval of bill a ‘defining moment’ for Pakistan’s digital economy
- Senator says Pakistan will soon be trading major crypto coins such as Bitcoin, Ethereum, XRP
ISLAMABAD: The Senate, the upper house of Pakistan parliament, has passed the Virtual Assets Bill 2026 that paves the way for regulation and supervision of the digital assets sector to protect investors, the Pakistan Virtual Assets Regulatory Authority (PVARA) said on Friday.
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.
PVARA will oversee the registration and licensing of virtual asset exchanges, custodians and other service providers, according to the bill. It will set conduct of business requirements, enforce customer protection safeguards and implement measures to combat money-laundering and financial crime.
“The passage of this bill through the Senate represents a defining moment for Pakistan’s digital economy,” PVARA quoted its Chairman Bilal bin Saqib as saying. “We are transforming years of unregulated activity into a transparent, secure, and investor-friendly ecosystem that positions Pakistan as a credible jurisdiction for virtual assets.”
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.
The bill establishes a formal legal framework empowering PVARA to oversee virtual asset service providers and seeks to enhance market transparency by aligning the country’s digital asset regime with international standards. It will now be sent to the National Assembly, lower house of parliament, for approval before being submitted to President Asif Ali Zardari for its enactment into law.
Pakistan ranks among the world’s largest cryptocurrency markets by adoption, with millions of citizens actively engaged in virtual assets. PVARA said the Virtual Assets Bill 2026 provides a legal foundation to channel this organic growth into a regulated framework.
On Wednesday, Dr. Afnanullah Khan, a Pakistani senator from the ruling party, said major crypto coins such as Bitcoin, Ethereum and XRP will soon be traded in Pakistan through crypto exchanges.
Last week, Pakistan launched a crypto testing framework called the “regulatory sandbox” to regulate digital assets, allowing firms to trial new products and services under official supervision. The initiative creates a controlled environment where companies can test crypto-related services under the oversight of PVARA before full-scale approval.
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. Stablecoins are cryptocurrencies pegged to a fiat currency to maintain a stable value.
