ISLAMABAD: Pakistan’s federal cabinet on Wednesday demanded Israel immediately cease its bombardment of the besieged Gaza strip, state-run Radio Pakistan said, as casualties mounted amid an escalation of hostilities in the Middle East.
Israeli jets pounded several targets throughout the Palestinian enclave on Tuesday night and Wednesday after Hamas’ surprise attack against the Jewish state over the weekend.
According to the Palestinian health ministry, over 1,000 people have been killed and more than 5,000 injured since Saturday. Israel says at least 1,200 were killed in the Hamas raid.
Israel has put Gaza under “total siege” to stop food and fuel reaching the enclave of 2.3 million people, many poor and dependent on aid. Hamas media said on Wednesday electricity went out after the only power station stopped working.
“The Caretaker Federal Cabinet has demanded immediate cessation of bombardment in Gaza and ending of illegal siege of the territory, allowing international assistance to reach victims,” Radio Pakistan said in a report.
The announcement followed a meeting of the federal cabinet chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar in which the Middle East crisis was discussed and the cabinet strongly condemned Israel’s bombardment and expressed “serious concerns” about the shortage of food and water in Gaza.
“The Information Minister [Murtaza Solangi] said the cabinet unanimously emphasized that recent tension is a result of Israel’s illegal occupation of Palestinian territories for the last two decades,” the report said.
The cabinet reiterated its position that a separate homeland for the Palestinians, based on pre-1967 borders as per UN resolutions, was the only solution to the crisis.
Separately, hundreds of protesters marched across Pakistan’s capital city, Islamabad, on Wednesday to denounce Israeli actions against Palestinians.
Pakistani cabinet demands ‘immediate cessation’ of Israeli bombing of Gaza
https://arab.news/6yjzt
Pakistani cabinet demands ‘immediate cessation’ of Israeli bombing of Gaza
- Israeli jets pounded Gaza on Tuesday night and Wednesday, killing over 1,000 according to Palestinian health ministry
- Pakistan does not recognize Israel, demands separate homeland for Palestinians based on pre-1967 borders
Pakistan Senate committee approves draft law paving way for legal crypto trade
- Pakistan Virtual Assets Regulatory Authority to grant licenses to issue crypto coins, regulate crypto exchange under new law, says senator
- Major cryptocurrencies such as Bitcoin, Ethereum and XRP expected to be traded legally in Pakistan within weeks, says lawmaker
ISLAMABAD: A Pakistani Senate committee approved a draft bill to regulate virtual assets on Wednesday, paving the way for cryptocurrency trading to become legal in the country.
Pakistan has been undertaking efforts over the past couple of months in drafting rules to regulate the fast-expanding market for digital coins and tokens, requiring virtual-asset service providers to obtain government approval. Islamabad’s moves to adopt digital currency is a significant shift in policy, considering it had previously banned cryptocurrency transactions in 2018 citing financial risks and lack of regulation.
Last month, Pakistan signed a memorandum of understanding with a company affiliated with the World Liberty Financial, a crypto-based finance platform launched in September 2024 and linked to US President Donald Trump’s family. The agreement explores the use of a dollar-linked stablecoin for cross-border payments.
Pakistan Senate’s Standing Committee on Cabinet approved the draft “Virtual Asset Act 2026” during a meeting on Wednesday. The bill relates to the Pakistan Virtual Assets Regulatory Authority’s mandate (PVARA) and its power to issue licenses.
“So under the new law, what will happen is that there will be an authority which already exists, the Pakistan Virtual Asset Regulatory Authority (PVARA), that will have the power to give licenses in which crypto coins can be issued, in which mining can be done, and they will be able to regulate the whole (crypto) market,“” Senator Dr. Afnan Ullah Khan, a member of the committee, told Arab News.
He said under the new law, PVARA will be able to check which company has the license to issue crypto coins and which ones can raise funds for this purpose.
When asked whether crypto trading will be legal in Pakistan after the bill passes in parliament, Dr. Afnan said the draft law will first be presented in the Senate and National Assembly for approval. After that, he said the president will sign it into law.
“Then it will become legal,” Dr. Afnan said. “It will not take a few weeks, it will take maybe like a week.”
He added that major crypto coins such as Bitcoin, Ethereum and XRP will be traded in Pakistan through crypto exchanges.
Dr. Afnan said the bill was analyzed by committee members, adding that the final draft was approved with the consent of all parties.
He said the law also caters to concerns on the use of cryptocurrency for money laundering and illegal purposes, adding that it also proposes fines for violations by licensees.
PVARA last year issued No Objection Certificates (NOCs) to two global crypto exchanges HTX and Binance.
PVARA 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.”
