ISLAMABAD: Pakistan’s army has bagged the gold medal in Exercise Cambrian Patrol 2024 organized by the British Army, the army’s media wing said on Sunday, in which 128 teams from 42 countries around the world participated.
The Exercise Cambrian Patrol has been running for over 60 years and is the British Army’s principal All Arms Patrol Exercise. It is open to all three Services (regular and reserve) while international participants are encouraged to take part. This year the exercise was held from Oct. 4-13.
The scenario-based exercise is not a competition although patrol performance is assessed throughout based on Battlecraft Syllabus (BCS) and Individual Training Requirement (ITR), in addition to robustness and leadership, the exercise says on its official website.
“This year, 128 teams from 42 countries participated in the Exercise and out of all these teams, Pakistan Army’s team showed exceptional performance in the exercise and has been awarded with the gold medal,” the Inter-Services Public Relations (ISPR) said in a statement.
The military’s media wing said that patrols from around the world had to move tactically across inhospitable terrain to cover a distance of 60 kilometers within 48 hours, completing specialist tasks in a “contested environment.”
“It is indeed a proud moment for the whole nation and the Pakistan Army, which is known for its professionalism and highest standards of training,” the ISPR said.
Pakistan Army bags gold in Exercise Cambrian Patrol 2024 competition
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Pakistan Army bags gold in Exercise Cambrian Patrol 2024 competition
- Around 128 teams from 42 countries took part in the exercise this year, says Pakistan Army
- Patrols had to cover 60 kilometers in 48 hours across inhospitable terrain completing tasks
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.
