ISLAMABAD: The Pakistan Army on Thursday blamed India of launching a supersonic flying object a day before, saying it violated the country’s airspace and endangered civilian lives.
Pakistan’s military spokesperson Major General Babar Iftikhar held a press briefing in Rawalpindi wherein he said the flying object was launched from Sirsa in Indian state of Haryana and fell in Mian Channu in Pakistan’s Khanewal district.
“Pakistan strongly protests this flagrant violation [of its airspace] and cautions against any similar future incident,” he said. “Whatever is the cause of this incident, it is for India to explain.”
Iftikhar said the object had deviated toward Pakistan from its initial course before falling into its territory. He added the incident did not result in any loss of life.
“It was a supersonic object, most probably a missile, but it was certainly unarmed,” he disclosed. “So, whatever has caused this, we will wait for an explanation from the Indian side.”
The military spokesperson explained the object was flying at an altitude of 40,000 meters and at a very high speed, indicating it was a missile. However, he said it reflected India’s poor technology.
“This incident reflects the questionable capabilities of the human resources working on these programs in India as well as this technology,” he said.
Iftikhar informed the Pakistan Air Force (PAF) had detected the high-speed projectile from its point of origin until its point of impact.
“Actions [and] response … everything was perfect,” he said.
The spokesperson said the tactical actions of the air force were put in place right from the moment the object was found headed toward Pakistan. He revealed it stayed in Pakistani airspace for a little more than three minutes before falling down.
Iftikhar maintained the incident endangered the lives of Indians and Pakistanis alike, adding it could also have caused a “major aviation disaster.”
Responding to a question, he said there were no sensitive installations near Mian Channu where the projectile crashed.
He also informed the military had provided relevant details of the recent violation of Pakistani airspace by India to the foreign office which would take up the issue at appropriate forums.
Army blames India for violating Pakistan’s airspace by launching supersonic flying object
https://arab.news/8v58t
Army blames India for violating Pakistan’s airspace by launching supersonic flying object
- Given the altitude and speed, the army believes the object was a supersonic missile
- The military spokesperson says the incident could have caused a ‘massive aviation disaster’
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.
