LAHORE:
Prime Minister Shahbaz Sharif on Friday ordered that an effective regulatory system for virtual assets, in line with international standards, be implemented as soon as possible.
The remarks came as Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal bin Saqib visited the Prime Minister.
The Prime Minister directed that in order to promote Pakistan’s digital economy and increase investor confidence, an effective and internationally aligned regulatory system for the virtual assets sector should be made fully operational at the earliest.
He said special measures should be taken to provide training to the youth in modern technologies, especially artificial intelligence and digital finance, so that the country’s workforce can be aligned with future needs.
Bilal bin Saqib briefed the Prime Minister on the operational transition of the Pakistan Virtual Assets Regulatory Authority into a regulator, as well as the inauguration of the regulatory sandbox.
The briefing says innovations are being introduced in areas such as AI-based payments and regulated virtual asset services.
He further added that work was underway to prepare national institutions, workforce and regulatory framework for the next wave of economic transformation.
