Pakistan emphasizes strong US ties, urges Washington not to impose hard geostrategic choices

Pakistan Defense Minister Khawaja Asif addresses on the floor of the National Assembly of Pakistan in the federal capital Islamabad on May 3, 2023. (Photo courtesy: Twitter/NAofPakistan)
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Updated 17 June 2023
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Pakistan emphasizes strong US ties, urges Washington not to impose hard geostrategic choices

  • Khawaja Asif says Pakistan does not have problems with US developing ties with India, though it should not be at Islamabad’s cost
  • The defense minister acknowledges his country’s relations with the US has complicated its diplomatic engagement with other states

ISLAMABAD: Pakistan’s defense minister Khawaja Asif has said that his country wants strong relations with the United States and is willing to live with the American decision to strengthen ties with India, though Washington should not push Islamabad into situations where it is forced to make hard political or geostrategic choices.

The minister issued the statement during a wide-ranging interview with Newsweek, an American publication, in which he spoke at length about Pakistan’s relations with the US and other international actors like China.

Pakistani officials have frequently warned against another bipolar rivalry in the world while highlighting the dangers of its split into two power camps.

“We do not have any problem with the United States developing a partnership with India if it is not at the cost of Pakistan,” Asif told the magazine while pointing out that his country shared common borders with China, Afghanistan, Iran, and India and would like to have good relations with them.

“So, I personally feel that some appreciation is required in Washington about our situation, and we should not be pushed into a situation where we have to make some very hard choices,” he continued.

The minister said Pakistan valued its relations with the US, though it sometimes complicated Islamabad’s diplomatic engagements with other international and regional players.

“It has been very difficult for us over the last many decades to maintain this balancing act between our relationship with the United States of America and with regional powers like China, our friends in the Arabian Gulf, Iran, and, of course, the Russian Federation,” he said.

Asif expressed optimism that US Secretary of State Antony Blinken’s planned visit to China would help improve ties between the two global powers, creating more space for countries like Pakistan, which needed both states due to its “vulnerable economy.”

He pointed out that Pakistan’s diplomatic proximity with China had also provided “a corridor to the United States” to develop ties with Beijing in the past.

Pakistan’s state minister for foreign affairs Hina Rabbani Khar also raised similar concerns about balancing the US-China policy in a recent interview with POLITICO, wherein she maintained it was not in her country’s interest to take sides in the growing rivalry between Washington and Beijing.


Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects 

Updated 05 December 2025
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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.