Pakistan PM asks India to hold ‘meaningful’ talks on Kashmir, says integration efforts have failed

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Pakistan’s Prime Minister Muhammad Shehbaz Sharif addresses the legislative assembly of Azad Kashmir in Muzaffarabad, to mark the Kashmir Solidarity Day, on February 5, 2025. (PID)
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Pakistan’s Prime Minister Muhammad Shehbaz Sharif (second right) receives guard of honor upon his arrival at AJK Legislative Assembly in Muzaffarabad, Pakistani-administered Kashmir, on February 5, 2025. (PMO)
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Updated 05 February 2025
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Pakistan PM asks India to hold ‘meaningful’ talks on Kashmir, says integration efforts have failed

  • Shehbaz Sharif visits Muzaffarabad to commemorate the annual Kashmir Solidarity Day on February 5
  • Gen. Asim Munir also travels to the region, says Kashmir will be free one day and become part of Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday called on India to open “meaningful and result-oriented” dialogue over Kashmir, asserting that New Delhi’s unilateral measures to integrate the disputed Himalayan region have proved futile due to resistance among people.
Kashmir, known for the mesmerizing beauty of its lakes and snowcapped mountains, has remained contested between India and Pakistan since their independence in August 1947. The two South Asian nuclear rivals both claim it in full but control only parts of it. They have fought wars over the region and continue diplomatic efforts to highlight their respective political positions on the issue.
On August 5, 2019, India unilaterally revoked the special constitutional status of Jammu and Kashmir, stripping it of the limited autonomy it had enjoyed. The development was followed by Pakistan’s decision to downgrade its diplomatic ties with New Delhi.
Last year, India held legislative elections in Kashmir for the first time since the August 5 move, but the region continues to operate as a union territory under New Delhi’s direct control, limiting the legislative powers of its assembly.
Sharif said such measures were insufficient while addressing the legislative assembly of Azad Kashmir in Muzaffarabad to mark Kashmir Solidarity Day, adding that India continues to maintain a military stranglehold over the region despite these efforts.
“It is in the best interests of India and this region, that they move beyond the mindset of August 5, 2019, by implementing the United Nations Security Council resolutions to fulfill their promises made to the Kashmiris and world and come to a meaningful and result-oriented negotiations on Kashmir dispute,” Sharif said during his address to the assembly.
“Pakistan has always adopted the attitude of living in accordance with the principles of peaceful coexistence with its neighbors,” he continued. “We want all conflicts, including Jammu Kashmir, to be resolved through peaceful means, in accordance with the principles of diplomacy and democracy.”
Earlier, the prime minister urged the international community to press India to allow the Kashmiri people to determine their own future, saying the issue was “a key pillar” of Pakistan’s foreign policy and reiterating the country’s “unwavering moral, diplomatic and political support” for the Kashmiri people.
“I also avail myself of this opportunity to salute the resolve and courage of the valiant Kashmiri people, who continue to render innumerable sacrifices in their struggle to achieve their fundamental rights and freedoms,” he said.
Kashmir Solidarity Day is observed in Pakistan on February 5 each year to express support for the people of Indian-administered Kashmir. Different groups across the country are also expected to hold rallies to discuss the issue.
Chief of Army Staff General Asim Munir also visited Muzaffarabad during the day where he paid homage to the sacrifices of Kashmir people.
He reaffirmed that no act of aggression from the country’s enemies would go unanswered and underscored the army’s commitment to defending the nation’s sovereignty and territorial integrity.
“Without any doubt, Kashmir will be free one day and become part of Pakistan, as per the free will and destiny of the people of Kashmir,” he said.


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.