Bilal Bin Saqib calls on PM Shehbaz, discusses regulatory system for virtual assets

State Minister and Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib called on Prime Minister Shehbaz Sharif on Friday in Lahore and discussed regulatory system for virtual assets in line with international standards, reported 24NewsHD TV Channel.

According to a handout by the Prime Minister’s Office (PMO), PM Shehbaz directed that an effective regulatory system for virtual assets should be fully operationalised as soon as possible to promote the digital economy in Pakistan and enhance investor confidence. 

During the meeting, the prime minister said that special measures should be taken to provide training to the youth in modern technologies, particularly in the fields of artificial intelligence and digital finance, so that the country’s workforce can be aligned with future requirements. 

PVARA Chairman briefed PM Shehbaz on the PVARA’s transition into an operational regulator and the launch of a regulatory sandbox, the statement said.

PM Shehbaz Sharif was told that innovation was being introduced in areas such as AI-powered payments and regulated virtual asset services, the handout stated. He was also told that work was underway to prepare national institutions, the workforce, and the regulatory framework for the next wave of economic transformation, it added.