Pakistani security forces kill six militants in intelligence-based operation in northwest

Pakistan Army personnel patrol stand guard outside a distribution center of polling materials in Peshawar on February 7, 2024. (AFP/File)
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Updated 29 February 2024
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Pakistani security forces kill six militants in intelligence-based operation in northwest

  • An official statement says the militants were involved in violent activities against North Waziristan’s residents
  • The Pakistani security forces also recovered weapons, ammunition and explosives from the dead militants

ISLAMABAD: Pakistan’s security forces killed six militants in an intelligence-based operation (IBO) in the country’s northwest on Wednesday, saying they were involved in violent activities against the civilian population in the area.

Pakistan has witnessed an uptick in militant activities since Tehreek-e-Taliban Pakistan (TTP), a proscribed conglomerate of armed factions, called off a fragile ceasefire with the government in November 2022.

The violence has largely been confined to the western provinces of Khyber Pakhtunkhwa and Balochistan that share frontier with the neighboring state of Afghanistan.

The country’s security forces and law enforcement agencies have carried out several operations in recent months to deal with militants in places like North Waziristan where the recent engagement with the militants took place.

“During the conduct of operation, intense fire exchange took place between own troops and the terrorists,” the military’s media wing, ISPR, said in a statement, adding that this led to the killing of six militants.

“Weapons, ammunition and explosives were also recovered from the killed terrorists, who remained actively involved in numerous terrorist activities including target killing as well as extortion & abduction of innocent civilians,” it added.

The ISPR said one of the Pakistani soldiers who participated in the operation also got injured.

It informed the Pakistani forces started a “sanitization operation” to find other militants who might have taken refuge in the area.

Pakistan’s North Waziristan district was once described as the hub of militancy before the government launched a clear-and-hold military operation to reclaim the territory.


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.