ISLAMABAD: Pakistan is planning to adopt cryptocurrency as a “strategic asset” to bring about a digital financial revolution, an adviser to the Pakistani finance minister said this week, after Islamabad signaled its intent to formalize digital asset regulations.
Pakistan’s finance division said last month that it was mulling a national crypto council to establish a financial ecosystem in the country that would allow safe investments in digital assets.
This month, the finance division announced the appointment of Bilal bin Saqib, a Forbes-recognized entrepreneur and Web3 investor, as chief adviser to the finance minister for the Pakistan Crypto Council.
“The Pakistan Crypto Council recognizes Pakistan’s strong position as one of the top 10 nations globally in crypto adoption,” Saqib said on X.
“Moving forward, it will be our priority to recognize crypto as a strategic asset, develop comprehensive and forward-thinking regulatory frameworks, and ensure compliance to position Pakistan as a leader in the digital financial revolution.”
Pakistan’s central bank previously declared virtual currencies, including Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin and Pay Diamond, illegal and prohibited their sale, purchase and exchange in trading.
The country currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees, according to the finance division.
Saqib noted that the United States (US) had just made a “historic” move to establish a Bitcoin Strategic Reserve, which marked a pivotal moment for the global economy.
“It signals a shift in how nations perceive value, moving beyond traditional assets like gold and oil to embrace the digital future,” he said.
“For the world, this decision brings greater legitimacy to crypto as a store of value, accelerates institutional adoption, and strengthens the foundation of the digital economy. It also sets a precedent for other nations to follow, reshaping the future of global finance.”
Last month, Pakistan’s Finance Minister Muhammad Aurangzeb directed stakeholders to formulate a comprehensive framework for a digital asset ecosystem that ensures security, transparency, regulatory compliance and economic viability. He was presiding over a high-level meeting to discuss global evolution of cryptocurrency and potential impact of digital assets on Pakistan’s economy.
“This crypto council will oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner,” the finance division said after the meeting on Feb 25.
“The Council will also collaborate with friendly countries to develop standardized frameworks for international digital economic engagement.”
Pakistan plans to adopt cryptocurrency as ‘strategic asset,’ adviser says
https://arab.news/5zqdv
Pakistan plans to adopt cryptocurrency as ‘strategic asset,’ adviser says
- Pakistan has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees
- Last month, Islamabad announced its plans to set up a national crypto council to establish a digital financial ecosystem in the country
Pakistan lauds female polio workers as push to end virus intensifies
- Acknowledgement comes as Pakistan marks annual campaign promoting women’s rights and safety
- Ayesha Raza Farooq says the real strength of the polio program is its female workers and their bravery
ISLAMABAD: Pakistan’s top polio official on Tuesday praised the country’s female vaccination workers for their “extraordinary contribution” to the eradication drive, saying their efforts were central to ending the virus as Pakistan marked the global 16 Days of Activism Against Gender-Based Violence, an annual campaign to promote women’s rights and safety.
Female health workers administer the majority of polio drops in Pakistan, going door to door in remote, high-risk and conservative communities where women are best positioned to gain access to children.
Pakistan is one of only two countries in the world, alongside neighboring Afghanistan, where wild poliovirus remains endemic. The country has so far reported 30 cases this year.
“What you do is extraordinary, and your courage in all circumstances is the reason Pakistan will soon be polio-free,” said Ayesha Raza Farooq, the prime minister’s focal person on polio eradication, during a meeting with frontline workers in Islamabad.
“Pakistan’s real strength in this program is its female polio workers,” she added.
Farooq said she had listened to the concerns of field teams and assured them of full government support.
She maintained that female vaccinators had shown “remarkable bravery” despite difficult terrain, security concerns and community resistance in some areas.
In October, the Global Polio Eradication Initiative (GPEI) named Farooq Pakistan’s first gender champion for her leadership in promoting gender equality and women’s empowerment in public health and in the eradication effort.
Pakistan is scheduled to kick off the last nationwide anti-polio vaccination drive of 2025, according to the National Emergencies Operation Center (NEOC), with an aim to inoculate 45 million children.
The NEOC has also urged parents to coordinate with health workers during the campaign.
