ISLAMABAD: Pakistan’s foreign office announced on Thursday Prime Minister Shehbaz Sharif will visit Iran on July 30 to attend the inauguration ceremony of President-elect Dr. Masoud Pezeshkian.
This will be Sharif’s second visit to Iran in three months, as he previously visited the neighboring state to offer condolences on the death of President Ebrahim Raisi in a helicopter crash in May.
Earlier this month, voters in Iran gave a decisive win to reformist candidate Pezeshkian in the runoff election against the ultraconservative Saeed Jalili to replace Raisi.
Pezeshkian is now required to take an oath in Iranian parliament before assuming the office of the head of the state next week.
“At the invitation of the Speaker of the Islamic Consultative Assembly of the Islamic Republic of Iran, Mohammad Bagher Ghalibaf, the Prime Minister of Pakistan, [Shehbaz] Sharif, will visit Tehran on 30 July to attend the inauguration ceremony of the President-elect of Iran, Dr. Masoud Pezeshkian,” the foreign office spokesperson, Mumtaz Zahra Baloch, informed during her weekly media briefing.
She said the visit demonstrated the dedication of both countries to enhancing high-level interactions and bilateral collaboration.
“The visit attests to the commitment by the two countries to strengthen leadership level engagements and bilateral cooperation,” Baloch said.
Pakistan and Iran have had a history of rocky relations despite several commercial pacts. Their highest profile agreement is a stalled gas supply deal signed in 2010 to build a pipeline from Iran’s Fars gas field to Pakistan’s southern provinces of Balochistan and Sindh.
Pakistan and Iran also find themselves at odds due to the instability along their shared porous border, with their leaders routinely trading blame after militant attacks in their respective territories.
Earlier this year in January, Pakistan and Iran exchanged airstrikes, with each government claiming to have targeted militant hideouts in the other country.
Both states have since made peace overtures and restored bilateral ties through multiple high-level visits.
Pakistan PM to attend Iranian president’s oath ceremony next week
https://arab.news/y5mv3
Pakistan PM to attend Iranian president’s oath ceremony next week
- Masoud Pezeshkian won the presidential election held after Ebrahim Raisi’s death in helicopter crash
- Pakistan and Iran have made peace overtures after exchanging airstrikes earlier this year in January
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.
