El Salvador, Pakistan sign Bitcoin knowledge-sharing pact in crypto diplomacy push

El Salvador, Pakistan sign Bitcoin knowledge-sharing pact in crypto diplomacy push
CEO of the Pakistan Crypto Council and Minister of State for Crypto and Blockchain, Bilal bin Saqib (left), meets Salvadoran President Nayib Bukele in San Salvador on July 16, 2025. (Bilal bin Saqib)
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El Salvador, Pakistan sign Bitcoin knowledge-sharing pact in crypto diplomacy push

El Salvador, Pakistan sign Bitcoin knowledge-sharing pact in crypto diplomacy push
  • Both countries sign a Letter of Intent during Pakistan’s Minister of State for Crypto Bilal Bin Saqib’s visit
  • El Salvador, a Central American country, became the first nation to adopt Bitcoin as legal tender in 2021

KARACHI: Pakistan and El Salvador have agreed to establish a formal channel for knowledge exchange and cooperation on Bitcoin-focused initiatives, following a meeting between Bilal Bin Saqib, Minister of State for Crypto and Blockchain and CEO of the Pakistan Crypto Council, and Salvadoran President Nayib Bukele in San Salvador.

The agreement, formalized through a Letter of Intent signed between the Bitcoin Office of El Salvador and the Pakistan Crypto Council, will lead to technical cooperation and knowledge-sharing between the two countries.

The focus includes exploring public sector applications of Bitcoin, promoting blockchain-based financial inclusion and supporting policy innovation in emerging economies.

El Salvador, a Central American country, became the first nation to adopt Bitcoin as legal tender in 2021. Its experience is being closely watched by governments exploring the use of digital assets to expand financial access and reduce reliance on traditional monetary systems. Pakistan, for its part, is working to develop its own virtual asset economy through a structured regulatory approach.

“El Salvador’s bold Bitcoin experiment has inspired governments around the world,” Saqib said after the meeting, according to an official statement. “This visit marks the beginning of a strategic relationship rooted in innovation, inclusion and shared learning.”

The statement added the meeting was the first official engagement between a Pakistani government representative and the Salvadoran head of state.

It focused exclusively on digital asset collaboration, a move described as an example of “Biplomacy,” a term combining Bitcoin and diplomacy.

Pakistan expects the agreement to help both countries explore avenues for sovereign digital asset management and foster public-private dialogue on regulatory frameworks.

The State Bank of Pakistan said earlier this month it plans to complete a pilot project for a digital currency within the current fiscal year.

The announcement followed the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) through a presidential ordinance to regulate the country’s crypto market, curb illicit finance and promote responsible innovation.

According to financial analysts, the initiative is also expected to bring an estimated $25 billion in virtual assets into the formal tax net.


Pakistan’s Punjab reports 63 deaths in 24 hours as monsoon toll rises to 103

Pakistan’s Punjab reports 63 deaths in 24 hours as monsoon toll rises to 103
Updated 1 min 57 sec ago
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Pakistan’s Punjab reports 63 deaths in 24 hours as monsoon toll rises to 103

Pakistan’s Punjab reports 63 deaths in 24 hours as monsoon toll rises to 103
  • Heavy rains continue to lash most populous province, injuring nearly 400, damaging homes
  • Authorities urge evacuations from unsafe structures as weather warnings remain in place

ISLAMABAD: Pakistan’s most populous province of Punjab said on Thursday 63 people were killed and 290 injured in the last 24 hours due to heavy monsoon rains, as downpours continued in different parts of the country including the federal capital Islamabad and its adjoining regions.

The Provincial Disaster Management Authority (PDMA) of Punjab said in a statement the deaths were reported from multiple districts, including 15 in Lahore, nine in Faisalabad, nine in Okara, five in Sahiwal and three in Pakpattan.

The PDMA warned the spell of torrential rain was likely to continue across the province.

“So far, 103 people have died and 393 have been injured due to monsoon rains this year,” the statement said, adding that 128 houses have also been damaged and six livestock animals killed.

“In the last 24 hours alone, 63 people have died and 290 have been injured due to monsoon-related incidents,” it continued.

The statement said many of the casualties occurred in roof and building collapses, particularly in older or poorly constructed homes.

Authorities have appealed to the public to vacate dilapidated structures, avoid low-lying areas prone to flooding and keep children away from exposed electric wires and poles.

The Punjab government said medical care was being provided to the injured and that financial compensation would be extended to families of those killed under provincial policy.

Pakistan, which contributes less than one percent to global greenhouse gas emissions, is among the countries most vulnerable to the impacts of climate change. Rising temperatures, erratic weather patterns and shifting monsoon cycles have made extreme weather events more frequent and severe.

In 2022, record-breaking monsoon rains and glacial melt triggered devastating floods that submerged large areas of the country, killed more than 1,700 people and displaced millions.

Recovery efforts are still ongoing as climate-linked disasters continue to strain Pakistan’s fragile infrastructure and economy.


Pakistan flexes aerial reach with JF-17 jets deployment to UK air show after India clash

Pakistan flexes aerial reach with JF-17 jets deployment to UK air show after India clash
Updated 6 min 26 sec ago
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Pakistan flexes aerial reach with JF-17 jets deployment to UK air show after India clash

Pakistan flexes aerial reach with JF-17 jets deployment to UK air show after India clash
  • Military says the deployment and midair refueling demonstrate operational capability beyond borders
  • UK’s Royal International Air Tattoo is one of the world’s most prestigious military aviation exhibitions

ISLAMABAD: Pakistan has deployed its latest JF-17 Thunder Block-III fighter jets to the United Kingdom for the Royal International Air Tattoo (RIAT), said an official statement on Thursday, marking a high-profile demonstration of airpower weeks after a brief but tense military standoff with neighboring India.

The aircraft landed at Royal Air Force Base Fairford in southern England ahead of RIAT 2025, one of the world’s largest and most prestigious military aviation exhibitions. Held annually, the three-day event attracts air forces from around the world, offering a platform for aerial demonstrations, aircraft displays and military diplomacy.

This year’s show includes participation from over 60 nations and is themed “Eyes in the Skies,” highlighting advances in airborne surveillance and global security.

“Contingent of the Pakistan Air Force comprising state-of-the-art JF-17 Thunder Block-III fighter aircraft and the C-130 Hercules transport aircraft, has landed at the Royal Air Force Base Fairford, United Kingdom, to participate in the prestigious Royal International Air Tattoo – 2025,” the military’s media wing, Inter-Services Public Relations (ISPR), said in a statement.

“Pakistan Air Force’s JF-17 Thunder Block-III fighters executed successful Air-to-Air Refueling operations en route to United Kingdom with the support of a PAF IL-78 aerial refueling tanker,” it continued. “The intricate refueling operation demonstrated PAF’s long-range operational capabilities and the proficiency of its air and ground crew in conducting extended operations beyond national borders.”

The JF-17 Block-III is a 4.5-generation, multi-role fighter equipped with an AESA radar and long-range beyond-visual-range (BVR) missile capability. Co-developed by Pakistan and China, the aircraft has become the centerpiece of Pakistan’s indigenous airpower strategy.

The deployment is part of PAF’s broader effort to highlight its modernization and operational readiness.

The statement also noted heightened interest in the JF-17’s arrival, particularly among defense observers and aviation enthusiasts following the recent India-Pakistan conflict, during which the PAF downed several Indian fighter jets.

 


Pakistan sees $16 million in online animal sales during Eid — central bank 

Pakistan sees $16 million in online animal sales during Eid — central bank 
Updated 17 July 2025
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Pakistan sees $16 million in online animal sales during Eid — central bank 

Pakistan sees $16 million in online animal sales during Eid — central bank 
  • Over 64,000 cashless transactions recorded in major cattle markets as part of drive to formalize economy
  • State Bank hails campaign to promote digital payments during Eid-ul-Azha, backed by 24 commercial banks

KARACHI: Pakistanis spent more than 4.7 billion rupees (approximately $16.3 million) on sacrificial animals through digital transactions during Eid-ul-Azha this year, the State Bank of Pakistan (SBP) said on Tuesday, highlighting a growing shift toward cashless commerce in one of the country’s most traditional and informal markets.

The digital sales were part of the central bank’s “Go Cashless in Cattle Markets Campaign 2025,” launched to promote financial inclusion and reduce cash handling during the three-day religious festival that began on June 7. The annual holiday, also known as Eid Al-Adha, marks the Islamic ritual of animal sacrifice, during which millions of Pakistanis buy goats, cows, and camels, often in large, informal marketplaces.

The SBP said the campaign was implemented in collaboration with 24 commercial banks and covered 54 major cattle markets across the country.

“The campaign was successfully implemented in 54 major cattle markets across Pakistan, resulting in 64,553 transactions valued at Rs 4.656 billion,” the central bank said in a statement.

Eid-related animal trade represents a significant part of Pakistan’s informal economy. By introducing digital payment options in livestock markets, the central bank aims to improve financial transparency and support the government’s broader goal of documenting the cash-based economy.

Pakistan is currently under a $7 billion loan program with the International Monetary Fund (IMF), which encourages reforms including digitization of financial services to boost tax collection and economic stability.

“Digital payment systems play a vital role in modern economies by offering transparency, reducing fraud risks, and providing secure, convenient, and inclusive access to financial services,” the SBP said.

It added that such initiatives were crucial for building trust and driving adoption of digital platforms, especially among underserved groups like livestock traders.

The central bank said feedback from buyers and sellers in the cattle markets was positive, with participants appreciating the reduced reliance on physical cash.

“This campaign was highly appreciated by the buyers and sellers in the cattle markets, as it reduced their reliance on cash,” the bank noted.

Najeeb Ahmed Warsi, head of online trading at Foundation Securities Ltd, called the initiative a meaningful step toward modernizing Pakistan’s financial landscape.

“This campaign is more than just numbers, it’s a clear step forward in Pakistan’s journey toward a digitally-driven, cashless economy,” he said. “By digitizing traditional markets, we’re building trust, increasing financial inclusion, and setting the stage for a safer, smarter financial ecosystem.”

Warsi noted that the partnership between 24 commercial banks and the central bank allowed the initiative to scale effectively across the country.

“This groundbreaking initiative earned widespread praise from both buyers and sellers, who welcomed the shift from cash to digital payments, and transparency during one of the busiest market seasons,” he added.

The SBP said it would continue fostering collaborations across the financial sector to further Pakistan’s transition to a digitally inclusive economy.


Pakistan’s Imran Khan orders party to stay silent on infighting, focus on protests

Pakistan’s Imran Khan orders party to stay silent on infighting, focus on protests
Updated 16 July 2025
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Pakistan’s Imran Khan orders party to stay silent on infighting, focus on protests

Pakistan’s Imran Khan orders party to stay silent on infighting, focus on protests
  • Reports of rifts within Khan’s party grew after a senior leader spoke about lack of clarity over ongoing nationwide protest drive
  • Khan orders party members to avoid sharing grievances publicly, says time for negotiations with government “has passed”

ISLAMABAD: Former prime minister Imran Khan on Wednesday urged party members to put aside their grievances amid reports of rifts within the Pakistan Tehreek-e-Insaf (PTI) and focus on the ongoing protest movement, reiterating that the time for negotiations with the government “has passed.”

Reports of a rift within the party began to emerge after Ali Amin Gandapur, a close Khan aide and Khyber Pakhtunkhwa (KP) chief minister, announced on July 13 that a 90-day “do-or-die” protest drive against the government is underway. The protest call, however, appeared to contradict an earlier call for a nationwide protest posted on Khan’s official X account, set to culminate on August 5. The day marks the second anniversary of the former prime minister’s imprisonment on corruption charges.

Speculation of conflicts within the party further grew after senior PTI leader and Punjab Chief Organizer Aliya Hamza Malik publicly voiced concerns on X about a lack of clarity around the campaign. Malik questioned the origin of the 90-day plan and asked for details on the party’s strategy to secure Khan’s release.

According to a statement shared from his official X account, Khan told his family and lawyers at Adiala Jail where he is imprisoned, that he and others from the PTI are currently undergoing “some of the harshest imprisonments.”

“Therefore, I direct every member of the party to put aside all personal grievances,” the statement read. “Publicly airing internal matters or individual concerns before the media is entirely unacceptable.”

Khan instructed his party members, both juniors and seniors, to avoid sharing “internal differences” on social media, electronic media, print media or other platforms, urging them to “focus exclusively” on the protest movement.

“If any party official fails to participate in this movement, I will make the final decision about them myself, even from within jail,” he warned.

The cricketer-turned-politician directed the PTI leadership to decide about nominations for the party’s Senate tickets through “mutual consultation.”

Khan urged his party supporters to continue protesting against the government.

“The time for negotiations has passed,” the statement said. “What remains now is the time for the nation to rise in protest.”

Pakistan’s Information Minister Attaullah Tarar last week dismissed the party’s protest call as a “political gimmick.”

“PTI has lost street power and its credibility, and is heading toward irrelevance,” the minister said.

Khan was ousted from the PM’s office in a no-confidence vote in April 2022 and jailed in August 2023. Since then, the PTI has repeatedly mobilized street protests, including a large march to Islamabad in November 2024, to demand his release and challenge the legitimacy of the February 2024 general election.

The government accuses the PTI of using the protests to incite instability and disrupt efforts at economic recovery.

Punjab Information Minister Azma Bukhari said earlier this week that peaceful protest was a democratic right of every individual. However, she accused the PTI of abusing that right in the past.

“PTI has a history of violence and anarchy,” she told reporters. “No political party is allowed to attack with weapons as Pakistan is our red line.”

Hundreds of PTI supporters were arrested after riots allegedly incited by the party against the military on May 9, 2023. The government also says four soldiers were killed in November protests last year. PTI denies the charges.


Pakistan to close national chain of subsidized retail stores amid privatization push

Pakistan to close national chain of subsidized retail stores amid privatization push
Updated 16 July 2025
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Pakistan to close national chain of subsidized retail stores amid privatization push

Pakistan to close national chain of subsidized retail stores amid privatization push
  • Government pushes ahead with shut down of decades-old Utility Stores Corporation by end of July
  • Voluntary Separation Scheme under discussion as committee reviews financial and legal implications

ISLAMABAD: Pakistan will shut down the state-owned Utility Stores Corporation (USC) by July 31 as part of a broader government effort to restructure and privatize loss-making public sector entities, according to a statement from the finance ministry carried by state broadcaster Radio Pakistan on Wednesday.

The decision follows years of declining performance, mismanagement allegations, and heavy financial losses at the USC, a nationwide retail chain originally established in 1971 to provide essential commodities at subsidized prices to low-income households. The stores were once a key instrument in the government’s food security and price control policies but have faced mounting criticism over inefficiency, politicized staffing and weak oversight.

A high-level committee formed by Prime Minister Shehbaz Sharif to oversee the closure and privatization of the USC met on Wednesday in Islamabad, with Finance Minister Muhammad Aurangzeb chairing the session.

The committee is responsible for ensuring a transparent shutdown process, designing a fair Voluntary Separation Scheme (VSS) for USC employees and recommending a timeline for privatization or asset disposal.

“All operations of Utility Stores Corporation will be closed by 31st of this month in accordance with the government's directives,” the Radio Pakistan report said.

The committee “discussed at length the formulation of a fair and financially viable Voluntary Separation Scheme for the Utility Stores employees” and examined various aspects including its potential size, fiscal impact, and legal implications.

To support the analysis, a sub-committee led by the secretary of the Establishment Division has been formed and will submit recommendations on the structure and feasibility of the VSS by the end of the week.

The committee also advised that the government’s Privatization Commission be consulted on whether the USC's assets should be sold off or restructured for privatization.

The closure of the USC marks a significant step in Pakistan’s ongoing efforts to reduce the burden of state-owned enterprises on the national budget in line with reforms encouraged by the International Monetary Fund. Over the years, several audits and parliamentary reviews have pointed to chronic inefficiencies at the USC, including procurement irregularities and an inability to meet its mandate effectively in remote and underserved areas.