Pakistan minister in Saudi Arabia to attend World Defense Show exhibition 

Participants attend World Defense Show exhibition in Riyadh, Saudi Arabia, on Feb. 18, 2025. (SPA/File)
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Updated 08 February 2026
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Pakistan minister in Saudi Arabia to attend World Defense Show exhibition 

  • Defense Minister Khawaja Asif to attend five-day event featuring global companies specializing in defense, security sectors
  • Pakistan, Saudi Arabia signed a strategic defense pact last year formalizing decades of decades of military cooperation 

ISLAMABAD: Pakistan’s Defense Minister Khawaja Muhammad Asif arrived in Riyadh this week to attend the five-day Saudi Defense Show exhibition, state media reported, where more than 700 exhibitors are expected to showcase their products. 

Saudi Arabia’s General Authority for Military Industries (GAMI) is organizing the event from Feb. 8-12 in Riyadh, according to the Saudi Press Agency. The event brings together official delegations, government entities and leading international companies specializing in the defense and security sectors. 

GAMI Governor Ahmad Al-Ohali has said the event will feature a comprehensive program, including live air and land demonstrations, static displays and newly developed zones, enhancing opportunities for partnership and integration between Saudi government entities and major national and global defense companies. 

“Defense Minister of Pakistan, Khawaja Muhammad Asif, has arrived in Riyadh on the official invitation of the Government of the Kingdom of Saudi Arabia to attend the World Defense Show,” the state-run Pakistan Television News (PTV) said on Saturday. 

It said Asif was received by senior Saudi officials and Pakistan’s Ambassador to Saudi Arabia, Ahmed Farooq, after arriving in Riyadh. 

Pakistan and Saudi Arabia have strengthened their economic and defense ties in recent years as regional tensions and militant violence escalate. 

The two nations signed a Strategic Mutual Defense Agreement on Sept. 17, 2025, pledging that aggression against one country would be treated as an attack on both, enhancing joint deterrence and formalizing decades of military and security cooperation.

The pact was signed during Pakistani Prime Minister Shehbaz Sharif’s state visit to Riyadh, where he met Crown Prince Mohammed bin Salman. 

A month later, the two countries complemented their defense pact with an economic cooperation framework to boost trade and investment ties. 

Pakistan regards Saudi Arabia as a critical ally, with the Kingdom hosting over 2.5 million Pakistani expatriates. This makes Saudi Arabia the largest source of remittances for cash-strapped Pakistan worldwide. 


Pakistan launches crypto testing framework to regulate digital assets

Updated 20 February 2026
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Pakistan launches crypto testing framework to regulate digital assets

  • Regulatory ‘sandbox’ to let firms test crypto products under supervision
  • Move comes amid broader push to formalize Pakistan’s digital asset sector

ISLAMABAD: Pakistan’s Virtual Assets Regulatory Authority (PVARA) on Friday launched a crypto testing framework to regulate digital assets, allowing firms to trial new products and services under official supervision.

The initiative, formally structured as a regulatory “sandbox,” creates a controlled environment where companies can test crypto-related services under the oversight of the regulator before full-scale approval.

According to PVARA, the sandbox will support real-world use cases including tokenization, stablecoins, remittances and on- and off-ramp infrastructure.

Tokenization refers to converting real-world assets into digital tokens on a blockchain, while stablecoins are cryptocurrencies pegged to a fiat currency to maintain a stable value. On- and off-ramp infrastructure allows users to convert between fiat money and digital assets, enabling the practical use of virtual asset products.
“The Pakistan Virtual Assets Regulatory Authority has formally approved and launched its Regulatory Sandbox for virtual assets,” PVARA said in a post on X. “Sandbox Guidelines and the application process will be published shortly on our website.”

 

 

The move comes as the government seeks to build a formal regulatory framework for digital assets while attracting investment and strengthening oversight of the sector.

Pakistan has stepped up efforts recently to regulate its digital asset sector and is exploring digital currency initiatives as part of broader measures to reduce cash usage.

In January, Pakistan signed a memorandum of understanding with a company affiliated with World Liberty Financial, a crypto-based finance platform launched in September 2024 and linked to US President Donald Trump’s family to explore the use of a dollar-linked stablecoin for cross-border payments.