Pakistan moves to formulate ‘national innovation framework’ amid climate change, food security concerns 

A farmer harvests strawberries at a field on the outskirts of Lahore on January 23, 2025. (AFP/ file)
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Updated 15 May 2025
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Pakistan moves to formulate ‘national innovation framework’ amid climate change, food security concerns 

  • Shehbaz Sharif instructs relevant officials to ensure the provision of easy agricultural loans to farmers
  • He asks his administration to present an agricultural innovation plan, promote the use of technology

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday emphasized the need to strengthen agricultural research and directed the formulation of a national innovation framework amid growing concerns over climate change and food security.

Sharif was chairing a high-level meeting to review reforms in the agriculture sector. He said the government was modernizing farming practices to achieve self-sufficiency and unlock the sector’s full economic potential.

Pakistan has in recent years experienced a series of extreme climate events, including heatwaves, droughts and floods. In 2022, catastrophic floods submerged a third of the country, killing around 1,700 people and causing more than $35 billion in economic losses.

Last year, Pakistan deepened agricultural cooperation with Beijing during Sharif’s visit to China, where both sides agreed to train Pakistani agriculture experts and promote the use of modern technology and innovative farming practices.

“Ensure the provision of agricultural loans to farmers on easy terms,” Sharif instructed relevant officials, according to a statement issued by his office after the meeting.

“Focus on agricultural research to increase national productivity,” he added. “We need a sustainable and long-term agro-industrial development policy to boost both agriculture and forestry, which are essential to tackling climate change.”

During the meeting, the prime minister noted that Pakistan had been blessed with fertile land, capable experts and hardworking farmers, stressing the need for a coordinated strategy in consultation with all stakeholders, including provincial governments.

He instructed relevant ministries to present a National Agricultural Innovation Plan, expedite reforms in the seed certification system and devise an effective strategy to promote high-quality seeds.

He also called for the creation of a comprehensive regulatory framework to support innovation and transparency in the sector.

“Promoting modern technology in agriculture is our priority,” the PM said, reiterating his government’s commitment to transforming the sector to drive economic growth and build climate resilience.

A working group established to develop agricultural reforms also presented its proposals during the meeting, the PMO said.


Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects 

Updated 05 December 2025
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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.