Attacks across Pakistan, including school shooting, kill 14

People carry a teacher's dead body into an ambulance from a hospital after a sectarian violence inside a school in Parachinar, in Kurram district of Pakistan's Khyber Pakhtunkhwa province on May 4, 2023. (AFP)
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Updated 04 May 2023
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Attacks across Pakistan, including school shooting, kill 14

  • Six soldiers killed in shootout in North Waziristan, eight teachers shot dead in two separate incidents
  • Violence underscores challenges PM Sharif is facing amid surge in militant attacks in recent months

PESHAWAR: Gunmen stormed a school in Pakistan’s volatile northwest on Thursday, killing seven teachers and gunning down another teacher from the school in a separate attack. 

Earlier in the day, a shootout with militants elsewhere in the region killed six Pakistani soldiers.

The violence underscores the challenges the government of Prime Minister Shahbaz Sharif is facing amid a surge in militant attacks across the country in recent months.

In Kurram, a district in the northwestern Khyber Pakhtunkhwa province that borders Afghanistan, a group of gunmen stormed a government school where students were taking exams. The seven killed teachers were members of Pakistan’s minority Shiite community, which is frequently targeted by militants.

Another teacher from the same school, a Sunni Muslim, was gunned down on the road in a separate attack earlier in the day in Kurram, according to local police official Abbas Ali.

No one immediately claimed responsibility for the attacks and Ali said it was not clear if they were linked.

“We are looking into all aspects, and so far we have no idea who killed the teachers,” he said. The prime minister condemned the attacks on teachers and ordered a probe into the killings.

Earlier on Thursday, six soldiers were killed in a shootout in North Waziristan, another district in Khyber Pakhtunkhwa province. The military provided no details on the shootout but said that three militants were also killed.

The region is a former stronghold of the Pakistani Taliban — the outlawed Tehrik-e-Taliban Pakistan, or TTP, as the group is also known — and also other militants. TTP is a separate group but allied with the Afghan Taliban.

The Taliban takeover of Afghanistan in August 2021 has emboldened the TTP, which has stepped up attacks across Pakistan, mainly targeting security forces. The military in recent weeks has also carried out multiple raids on militant hideouts in the northwest, killing and arresting dozens of insurgents.

Separately from the surge in militant attacks, Sharif’s cash-strapped government is also struggling to revive a bailout package from the International Monetary Fund and recover from last year’s massive flooding that killed hundreds and caused $30 billion in damages.


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.