ISLAMABAD: Prime Minister Shehbaz Sharif has appointed Bilal bin Saqib as his special assistant on blockchain and cryptocurrency, Sharif’s office announced on Monday, as Islamabad eyes a shift to digital economy.
The move positions Pakistan among a handful of nations, including the United States, the United Arab Emirates and El Salvador, which have dedicated blockchain and cryptocurrency leadership.
It signals Islamabad’s intent to transform the country into a global leader in digital innovation through encouragement of crypto mining and other similar measures.
“The prime minister... has been pleased to appoint Mr. Bilal bin Saquib as Special Assistant to the Prime Minister on Blockchain and Crypto with the status of Minister of State, with immediate effect,” Sharif office said in a notification on Monday.
The appointment of Saquib, who also serves as the chief executive officer of the Pakistan Crypto Council (PCC) and chief adviser to Finance Minister Muhammad Aurangzeb, comes a day after Pakistan allocated 2,000 megawatts (MW) of electricity to power bitcoin mining and Artificial Intelligence (AI) data centers in the first phase of a national initiative.
The initiative is spearheaded by the PCC as part of a broader strategy to monetize surplus electricity, create high-tech jobs, attract billions of dollars in foreign direct investment.
Pakistan’s combination of surplus power, geographic advantage, advanced subsea cable connectivity, renewable energy potential, and a large, digitally engaged population creates a compelling case for becoming a regional epicenter of Web3, AI, and digital innovation.
“This strategic allocation marks a pivotal moment in Pakistan’s digital transformation journey, unlocking economic potential by turning excess energy into innovation, investment, and international revenue,” Finance Minister Muhammad Aurangzeb said on Sunday.
Saquib emphasized the transformative nature of the initiative and said Pakistan could become a global crypto and AI powerhouse with proper regulation, transparency, and international collaboration.
“This energy-backed digital transformation not only unlocks high-value investment but enables the government to generate foreign exchange in USD through bitcoin mining,” he said on Sunday.
Pakistan introduced in April its first-ever policy framework to regulate virtual assets and service providers, aligning with compliance and financial integrity guidelines of the global Financial Action Task Force (FATF). The move followed the establishment of the PCC in March to create a legal framework for cryptocurrency trading in a bid to lure international investment.
Establishing local AI data centers will not only address growing concerns around data sovereignty but will also enhance cybersecurity, improve digital service delivery, and empower national capabilities in AI and cloud infrastructure. These centers are expected to create thousands of direct and indirect jobs, catalyzing the development of a skilled workforce in engineering, IT, and data sciences.
