ISLAMABAD: Prime Minister Shehbaz Sharif reiterated Pakistan’s commitment to enhancing collaboration with the International Atomic Energy Agency (IAEA) to maximize nuclear technology for peaceful purposes during his interaction with the top agency official, his office said on Wednesday.
IAEA Director General Rafael Mariano Grossi is visiting Pakistan on a two-day official visit to meet key political leaders, attend seminars and visit a nuclear power generation site.
The United Nations nuclear watchdog, the IAEA, promotes the safe and peaceful use of nuclear technology worldwide. Pakistan has collaborated with the agency since 1957 and operates a civil nuclear power program under IAEA safeguards.
While Pakistan is not a signatory to the Nuclear Non-Proliferation Treaty (NPT), it has voluntary safeguards agreements with the IAEA and actively works to ensure its nuclear facilities comply with international safety standards.
“The PM reaffirmed Pakistan’s dedication to further strengthening its collaboration with the IAEA to harness the full potential of nuclear technology for peaceful purposes,” the PM office said in a statement following Sharif’s meeting with Grossi in Islamabad.
“During the meeting, the peaceful applications of nuclear technology in various sectors including cancer diagnostics and treatment, agriculture, food preservation, water management and industry were discussed.”
It added that Sharif praised the UN nuclear watchdog’s efforts in promoting nuclear energy to combat climate change, highlighting Pakistan’s “productive and mutually beneficial partnership” with the IAEA over the decades.
“With the IAEA’s support, Pakistan has made significant progress in nuclear power generation, industrial development, health care, and agricultural advancements, contributing to the country’s socio-economic growth,” the PM office said.
The statement added that Grossi appreciated Pakistan’s “constructive and longstanding” engagement with the UN nuclear watchdog, saying the IAEA would continue working with Pakistan in the same spirit.
Pakistan, a member of the IAEA Board of Governors, has been advocating for membership in the Nuclear Suppliers Group (NSG), arguing that its nuclear program meets international safeguards standards.
The South Asian country actively participates in IAEA conferences, policy discussions and technical workshops, demonstrating its commitment to the peaceful use of nuclear technology.
Pakistan PM vows to deepen cooperation with IAEA for peaceful nuclear use
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Pakistan PM vows to deepen cooperation with IAEA for peaceful nuclear use
- The top IAEA official Rafael Mariano Grossi is visiting Pakistan on a two-day official visit
- He will meet political leaders, attend seminars and visit a nuclear power generation site
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.
