Iftar Timings Mar 29 - Ramazan 18

Lahore
LHR
06:20 PM
Karachi
KHI
06:47 PM
Islamabad
ISB
06:26 PM
Peshawar
PWR
06:31 PM
Quetta
QTA
06:49 PM

News

Govt should allow cashing of cryptocurrency: FPCCI president 

Says Pakistanis have got 20m in digital money 

December 22, 2021 06:06 PM


President FPCCI Nasir Hayat Maggon has advised the government to allow cashing of the cryptocurrency in the country as Pakistanis have hoarded $20 million in digital currency, reported 24NewsHD TV channel on Wednesday.

The president of the Federation of Pakistan Chamber of Commerce and Industry was of the view that the government should legalize the cryptocurrency in the country as Pakistan comes on No 3 in the list of countries doing business in digital money. 

He informed that 20 million dollars of Pakistanis have been put in cryptocurrency. People go to Dubai to cash their digital assets, it’s better if the government allows cashing of digital money in the country, Maggon added.

On Oct 20, the Sindh High Court ordered the federal government to regulate the cryptocurrency as well as bitcoins in three months.

During the hearing of a petition filed by a citizen named Waqar Zaka against the ban imposed by the government on Digital Cryptocurrency, the court also directed the government to submit to it a report on the issue in three-month times.

The SHC also ordered the constitution of a high-level committee under the federal secretary of finance which would consult all the stakeholders before taking steps for the regulation of the currency.

It directed that the representatives of the Securities and Exchange Commission of Pakistan (SECP), the State Bank of Pakistan (SBP), ministries of law, and IT be also included in the committee.



Most Read

  1. Man murders young sister by smothering her with pillow in Toba Tek Singh Man murders young sister by smothering her with pillow in Toba Tek Singh
  2. Aitchison College students, parents stage protest against principal’s resignation Aitchison College students, parents stage protest against principal’s resignation
  3. Five Chinese among six killed in Shangla suicide bombing Five Chinese among six killed in Shangla suicide bombing
  4. Sahiba meets her father for the first time Sahiba meets her father for the first time
  5. Maaz Safder regrets 4-year relationship with wife Saba Maaz Safder regrets 4-year relationship with wife Saba
  6. ‘Khaie's incredible ending receives rave reviews and big applause ‘Khaie's incredible ending receives rave reviews and big applause

Opinion

  1. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  2. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  3. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  4. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  5. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  6. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer