Prime Minister Shehbaz Sharif has instructed authorities to expedite the full operationalisation of the regulatory framework governing the virtual assets sector. This move aims to strengthen Pakistan’s digital economy and increase investor confidence by ensuring compliance with international standards.
The directive was issued during a meeting in Lahore with State Minister and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib. The Prime Minister emphasized the importance of equipping the youth with skills in emerging technologies, particularly artificial intelligence and digital finance, to prepare the workforce for future economic demands.
Bilal Bin Saqib updated the Prime Minister on PVARA’s transition into a fully functional regulatory body and the launch of its regulatory sandbox. The briefing highlighted ongoing innovations, including AI-driven payment systems and regulated virtual asset services, as part of the broader strategy to ready national institutions and the workforce for the upcoming economic transformation.
This development follows the recent decision by the State Bank of Pakistan permitting financial institutions to open accounts for licensed virtual asset service providers. The SBP circular noted that the Virtual Assets Act, 2026, has been enacted, establishing PVARA as the official authority responsible for licensing, regulating, supervising, and overseeing virtual asset activities within Pakistan.
