ISLAMABAD: Saudi Arabia’s cabinet, chaired by Crown Prince Mohammed bin Salman, has approved a memorandum of understanding (MoU) with Pakistan’s Financial Monitoring Unit (FMU) to enhance cooperation in combating money laundering, terrorist financing and related crimes, the Saudi Press Agency reported this week.
Pakistan has faced significant challenges with money laundering and terrorist financing in recent years, leading to its placement on the Financial Action Task Force’s (FATF) grey list in June 2018.
After implementing comprehensive reforms to strengthen its financial system, the country was removed from the grey list in October 2022.
The FMU, established under the Anti-Money Laundering Act of 2010, serves as Pakistan’s financial intelligence unit, responsible for analyzing suspicious transaction reports and coordinating with international counterparts.
“[The cabinet approved] a memorandum of understanding between the General Department of Financial Investigation at the Presidency of State Security in the Kingdom of Saudi Arabia and the Financial Monitoring Unit in the Islamic Republic of Pakistan regarding cooperation in exchanging investigations related to money laundering, terrorist financing, and related crimes,” the SPA reported.
The MoU signifies the deepening strategic relations between Saudi Arabia and Pakistan. A significant Pakistani diaspora resides in the Kingdom, and numerous Pakistani businesses have established a presence there.
Saudi Arabia has been a key supporter of Pakistan’s economy, bolstering its reserves with substantial deposits in the State Bank of Pakistan and offering deferred oil payment facilities.
The Saudi cabinet also highlighted the Kingdom’s hosting of the INTERPOL Regional Bureau as a significant step, saying it underscored international recognition of the Kingdom’s pivotal role in combating extremism and other crime in their different forms.
Saudi cabinet approves memorandum of understanding with Pakistan to combat financial crimes
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Saudi cabinet approves memorandum of understanding with Pakistan to combat financial crimes
- The development signifies deepening strategic relations between the Kingdom and the South Asian state
- MoU was signed between Pakistan’s Financial Monitoring Unit and Saudi Department of Financial Investigation
Pakistan allocates 2,000MW for bitcoin mining, AI data centers in digital transformation push
- Pakistan offers a strategic location in the world for data flow and digital infrastructure as a digital bridge between Asia, Europe, and the Middle East
- The country is positioning itself as a sovereign economy that can accumulate digital assets, export digital services, and lead in technological transformation
KARACHI: The Pakistani government has allocated 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power bitcoin mining and Artificial Intelligence (AI) data centers, the finance ministry announced on Sunday, in a push to transform Pakistan into a global leader in digital innovation.
The initiative is spearheaded by the Pakistan Crypto Council (PCC), a government-backed body under the Ministry of Finance, as part of a broader strategy to monetize surplus electricity, create high-tech jobs, attract billions of dollars in foreign direct investment.
Pakistan is uniquely positioned, both geographically and economically, to become a global hub for data centers, and offers the most strategic location in the world for data flow and digital infrastructure as a bridge between Asia, Europe, and the Middle East.
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 was quoted as saying by his ministry.
Since the inception of the PCC, there has been tremendous interest from global bitcoin miners and data infrastructure companies, and several international firms have already visited Pakistan for exploratory discussions, according to the finance ministry. Following this landmark announcement, more global players are expected to visit in the coming weeks.
It said Pakistan’s underutilized power generation capacity is now being repurposed into a high-value digital asset.
“AI data centers and Bitcoin mining operations, known for their consistent and heavy energy usage, provide an ideal use case for this surplus,” the ministry said. ‘Redirecting idle energy, especially from plants operating below capacity, allows Pakistan to convert a long-standing financial liability into a sustainable, revenue-generating opportunity.”
PCC CEO Bilal bin Saqib emphasized the transformative nature of this initiative, saying 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.
“Additionally, as regulations evolve, Pakistan can accumulate bitcoin directly into a national wallet, marking a monumental shift from selling power in Pakistani Rupees (PKR) to leveraging digital assets for economic stability.”
In April, Pakistan introduced 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.
With the right incentives, strategic investments, and collaborative partnerships, Pakistan is positioning itself not only as a destination for global digital infrastructure but also as a sovereign economy that can accumulate digital assets, export digital services, and lead in the next generation of technological transformation.
“By offering stable and affordable energy, Pakistan presents a highly competitive environment compared to regional counterparts like India and Singapore, where rising power costs and land scarcity limit scalability,” the finance ministry said.
“Pakistan’s strategic advantage is further underscored by the global context: while AI data center demand has soared to over 100GW, global supply remains around 15GW. This massive shortfall creates an unprecedented opportunity for countries like Pakistan with surplus power, land, and an emerging regulatory framework.”
Pakistan’s digital connectivity has also been significantly strengthened by the landing of the world’s largest submarine Internet cable. The Africa-2 Cable Project, a 45,000-kilometer global network connecting 33 countries through 46 landing stations, has now landed in Pakistan. This milestone enhances Pakistan’s Internet bandwidth, latency, and resilience through redundant fiber routes — key for ensuring high availability and operational continuity for AI data centers.
With a population of over 250 million and more than 40 million crypto users, Pakistan holds immense potential as a regional leader in digital services, according to the finance ministry.
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.
“This announcement marks only the first phase of a broader, multi-stage digital infrastructure rollout. Future developments are expected to include renewable energy-powered facilities — leveraging Pakistan’s immense wind (50,000 MW potential in the Gharo-Keti Bandar corridor), solar, and hydropower resources — strategic international partnerships with leading blockchain and AI companies, and the establishment of fintech and innovation hubs,” the ministry said.
“These efforts will be complemented by proposed incentives such as tax holidays, customs duty exemptions on equipment, and reduced taxes for AI infrastructure developers.”
Saad bin Munawar becomes first Pakistani to summit Mt Everest from northern side
- Munawwar was part of a team of nine climbers who summitted the world's tallest peak as part of an expedition organized by Imagine Nepal
- The route to Everest peak from the northern face starts in Tibet, which is different from the Nepalese route that most mountaineers take
ISLAMABAD: In a remarkable feat, Saad bin Munawar has become the first Pakistani to summit the world’s tallest mountain, 8,848-meter Mount Everest, from its northern face, his expedition organizer said on Saturday.
Munawwar was part of a team of nine climbers who summitted the world’s tallest peak as part of the Everest North Expedition organized by Imagine Nepal.
The route to Everest peak from the northern face starts in Tibet, which is different from the Nepalese side route that most mountaineers take to ascend the peak.
“Saad has become the only Pakistani climber to reach the summit of Mount Everest from the north side,” his expedition organizer said on Facebook.
“The other climbers include Justin Moore Walker, Dawa Gyalje Sherpa, Ang Mingma Sherpa, Sonam Tashi Sherpa, Ngima Dorjee Sherpa, Lakpa Tenzing Sherpa, Dawa Kami Sherpa, and Thupten Topchen Sherpa.”
A renowned adventurer, mountaineer and author, Munawwar has long been a source of inspiration in Pakistan’s adventure community. Before this Everest ascent, he was the first Pakistani to summit 6,961-meter Mt.
Aconcagua, the highest peak outside Asia, according to Alpine Club of Pakistan (ACP), which arranges various expeditions in Munawwar’s home country.
“This remarkable achievement is not only a personal triumph for Saad but a proud milestone for Pakistan’s mountaineering community,” it said in a statement.
“His leadership in expeditions and mountaineering literature continues to motivate a new generation of climbers.”
Earlier this week, Pakistani woman mountaineer Naila Kiani scaled 8,586-meter Kanchenjunga, the world’s third highest peak, to become the first Pakistani woman to scale 12 of the world’s 14 peaks above the height of 8,000 meters.
Kiani now stands on the threshold of joining a global elite of only 17 women who have conquered all 14 eight-thousanders, Imagine Nepal, which also organized Kiani’s expedition, said after Friday’s summit.
Pakistan PM embarks on regional diplomacy tour after ceasefire with India
- The development comes two weeks after Pakistan and India traded missile, drone and artillery strikes before agreeing to a truce on May 10
- During the four-day conflict, several friendly nations supported Pakistan’s demand for a probe into an attack that triggered the standoff
ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday embarked on a five-day tour of Turkiye, Iran, Azerbaijan and Tajikistan to thank their leadership for supporting Islamabad during this month’s military conflict with India, Sharif’s office said.
Pakistan and India this month traded missile, drone and artillery strikes for days, killing around 70 people on both sides, before agreeing to a US-brokered ceasefire on May 10.
The conflict, the worst between the neighbors in decades, was triggered by an attack on tourists in Indian-administered Kashmir on April 22 that New Delhi blamed on Pakistan. Islamabad denies complicity.
During the conflict, several friendly nations supported Pakistan’s demand for a credible, international probe into the attack as they urged the nuclear-armed archfoes to exercise restraint.
“During the visit, the prime minister will have wide-ranging discussions with the leaders of these countries on an entire range of issues covering bilateral relations and matters of regional and international importance,” Sharif’s office said.
“He will also have the opportunity to express the deepest appreciation and acknowledgment for the support extended to Pakistan by the friendly countries during the recent crisis with India.”
Bitter rivals India and Pakistan have fought three wars, including two over the disputed region of Kashmir, since gaining independence from British rule in 1947. Both claim the Himalayan territory in its entirety but rule it in part. The conflict had raised fears that it could spiral into a full-blown war.
Both countries have separately announced sending delegations to key capitals and friendly countries to present their stance on this month’s standoff before the world, in a bid to gain world support.
During his visit aimed at furthering Pakistan’s diplomatic outreach, Sharif will also attend an International Conference on Glaciers in Dushanbe, Tajikistan on May 29-30, according to the Sharif’s office
The conference aims to advance global efforts in climate adaptation and resilience, with a specific focus on addressing glacial melting.
Pakistan is highly vulnerable to climate change, facing numerous impacts like rising temperatures and increased frequency of extreme weather events.
Officials say unusually high temperatures in Pakistan’s northern areas have resulted in rapid melting of glaciers, warning that the prolonged phenomenon could lead to water shortages and threaten lives in the long run.
Pakistan launches nationwide polio campaign to immunize over 45 million children
- Pakistan, Afghanistan are only countries where polio remains an endemic
- Health officials have confirmed 10 polio cases in Pakistan so far this year
ISLAMABAD: Pakistan has launched a third nationwide anti-polio vaccination campaign of this year that aims to inoculate 45 million children under five, the country’s polio program said on Sunday.
The campaign was formally inaugurated by Ayesha Raza Farooq, the prime minister’s focal person for polio eradication, who administered oral polio vaccine and Vitamin A drops to children under five at the National Emergency Operations Center (NEOC) in Islamabad.
Polio is a paralyzing disease with no cure. Multiple doses of the oral polio vaccine, along with the completion of the routine immunization schedule for all children are essential to ensure strong immunity against the disease.
Pakistan has confirmed 10 cases so far this year, according to the polio program. Environmental surveillance has detected the virus in 272 sewage samples from 127 testing sites, across 68 districts, signaling continued circulation.
“Polio eradication is not just a health goal — it is a national imperative and a matter of immense pride for our country,” Farooq said.
“This third campaign of 2025 marks a decisive milestone in our 2-4-6 roadmap. These back-to-back rounds from September 2024 to May 2025 represent our most strategic opportunity to close immunity gaps and halt virus circulation before the high transmission season begins.”
Pakistan and Afghanistan are the only two countries in the world where polio remains endemic.
The polio program described the weeklong campaign as a critical intervention in Pakistan’s “final push” to interrupt poliovirus transmission and achieve eradication by end of 2025.
Farooq acknowledged persistent challenges in areas such as Karachi, southern Khyber Pakhtunkhwa province and Quetta, but noted encouraging progress in reaching previously underserved populations.
Around 400,000 frontline workers, including 225,000 woman vaccinators, are powering the campaign, according to the polio program.
Speaking at the event, UNICEF Representative in Pakistan Abdullah Fadil, who just concluded his tenure, expressed confidence in the program’s direction.
“Pakistan is closer than ever to making history. With continued political will, community engagement, and coordinated action by all partners, I believe this country can soon achieve a polio-free future,” he said.
Pakistan’s polio program began in 1994, but efforts to eradicate the virus have been repeatedly undermined by vaccine misinformation and resistance from some religious hard-liners who claim that immunization is a foreign plot to sterilize Muslim children or a cover for Western espionage.
Militant groups have also frequently targeted polio vaccination teams and the security personnel assigned to protect them, often resulting in deadly attacks.
The polio program has urged public to cooperate with vaccination teams and report any missed children via the Sehat Tahaffuz Helpline 1166 or the WhatsApp Helpline at 0346-7776546.
Champions to be crowned as Lahore, Quetta face off in PSL final today
- The showdown begins this evening at Lahore’s Qaddafi Stadium with major prize money on the line
- Shaheen Afridi-led Lahore Qalandars aim for a third PSL title and a historic win on home ground
KARACHI: Defending champions Lahore Qalandars will face 2019 winners Quetta Gladiators in the final of the Pakistan Super League (PSL) today, Sunday, with both sides aiming to make history in the tenth edition of the country’s premier T20 tournament.
The final will be played under lights at Lahore’s Qaddafi Stadium, with the match set to begin at 7:30 p.m. local time. A reserve day has been scheduled for Monday in case of rain.
The winner will walk away with $500,000 in prize money, while the runners-up will receive $200,000.
Either the Shaheen Shah Afridi-led Qalandars will become only the second team in PSL history to win three titles, or the Saud Shakeel-led Gladiators will lift their second trophy after a six-year gap.
Qalandars fought their way into the final through the playoffs, knocking out Karachi Kings and Islamabad United, while Quetta topped the points table and beat Islamabad in the qualifier to book their spot.
“I’m thrilled and honored to be leading Quetta Gladiators to an HBL PSL final and we will do our best to lift the trophy,” Shakeel said. “Qaddafi Stadium really has been a lucky venue for us where we have won five out of our six games and will look to continue the winning momentum.”
Afridi said Lahore were aiming for a title hat trick on home turf.
“We are buzzing to feature in our third HBL PSL final in the last four editions and our aim is to complete the treble at our home ground,” he said.
Lahore, who finished fourth in the group stage, will take confidence from their previous outing against Quetta, where they secured a commanding 79-run win before their second encounter was washed out.
Fakhar Zaman, Abdullah Shafique and Mohammad Naeem have led the charge with the bat for Qalandars, while Shaheen, Haris Rauf and Rishad Hossain have spearheaded the bowling attack.
Quetta, meanwhile, have enjoyed a dramatic turnaround after finishing last in 2023.
Their success this season has been fueled by consistent performances from Hasan Nawaz, Rilee Rossouw and a bowling unit featuring Abrar Ahmed, Faheem Ashraf and Mohammad Amir.
Both captains promised a highly competitive final to close out what has been a landmark 34-match edition of the HBL PSL.
