Pakistan-IMF talks to wrap up today, crypto taxation on the agenda
Today marks the finale of the critical dialogue between Pakistan and the International Monetary Fund (IMF) regarding a $3 billion safety net arrangement. This discussion isn’t just a routine check-in; it’s a turning point that could unleash the remaining $1.1 billion from the bailout kitty. But there’s a twist in the tale this time around. […]
Pakistan’s Agricultural Revolution: Embracing AI for a Sustainable Future
In an era where technological advancement is pivotal, Pakistan stands at the cusp of an agricultural revolution driven by artificial intelligence (AI) integration. The country’s urgent need to boost food production against an exponentially growing population has led to rethinking traditional farming practices. AI emerges as a beacon of hope, promising to transform the agricultural […]
Pakistan’s economic crisis deepens: The cause?
Amidst a backdrop of political turbulence and mounting security concerns, Pakistan stands at the precipice of a deepening economic crisis, one that brooks no further delay in the search for a resolution. The urgency of the situation is palpable, with a looming election set to play a critical role in determining the nation’s future. Bilawal […]
India vows to make sure Pakistan never joins BRICS
India, a prominent member of the BRICS alliance, has emphatically voiced its opposition to Pakistan joining the group. This development has added another layer of complexity to the already intricate geopolitical landscape. The history of India and Pakistan, mired in decades of conflict since the 1947 partition, casts a long shadow over this decision. India’s […]
The Pivotal Role of AI in Expediting Legal Proceedings Through Cutting-edge Courtroom Technology
In the ever-evolving realm of legal systems, the pivotal role of cutting-edge courtroom technology, particularly driven by artificial intelligence (AI), has emerged as a transformative force. This revolutionary integration stands as a cornerstone for reshaping judicial processes globally, addressing persistent challenges such as case backlog and inefficiencies. As nations worldwide embrace digital solutions, the keyword […]
AI’s Global Impact on Climate Disaster Mitigation and Pakistan’s Challenges
In the wake of a tumultuous year marked by an alarming surge in climate change-induced disasters, the synergy between artificial intelligence (AI) and climate action takes center stage as a beacon of hope. The pressing concerns of climate change, driven by human activities, have catapulted the world into a precarious era where innovative solutions are […]
Crypto Industry in Pakistan: Significant Player in the Domain of Crypto Ownership
The global finance landscape is transforming due to cryptocurrencies, decentralized digital assets backed by blockchain technology. They have the potential to reshape traditional financial systems. However, in Pakistan, cryptocurrency’s acceptance is complex and evolving. Despite the crypto industry in Pakistan being met with skepticism and regulatory uncertainty, it has gained recognition among the public, sparking […]
India signals potential veto on Pakistan’s BRICS membership bid
India has recently articulated its stance regarding Pakistan’s aspiration to join the BRICS (Brazil, Russia, India, China, South Africa) alliance. Arindam Bagchi, the spokesperson for India’s Ministry of External Affairs (MEA), addressed this topic during a press conference. While responding to queries about Pakistan’s intent to join BRICS, Bagchi’s statements suggested that India might exercise […]
Pakistan makes surprising move to join BRICS
In a strategic pivot, Pakistan has recently submitted its formal application to join the BRICS alliance, aiming to become a part of this influential bloc by 2024. This move places Pakistan among six nations, including Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia, invited to join BRICS. However, amid this landscape of geopolitical realignments, […]
AI Collaboration Efforts Strengthen as China and Pakistan Forge Stronger Ties
In a bid to harness the transformative power of Artificial Intelligence (AI), China and Pakistan are strengthening their collaborative efforts in the field. Recognizing the pivotal role of AI in shaping the future of industries and economies, the two nations recently came together for the “China-Pakistan Artificial Intelligence Industry Cooperation Matchmaking” meeting. This event facilitated […]
Pakistan shifts from US dollar to Chinese Yuan for oil trade
Pakistan has completed its first import of discounted Russian crude oil, using Chinese currency instead of the typically used U.S. dollar. This shift arrives as Pakistan navigates an economic crisis marked by a severe balance of payments issue, threatening a potential default on its external debt. The country’s foreign exchange reserves are perilously low, barely […]
Pakistan sets an audacious goal for AI in education system
Pakistan, in an audacious push for technological growth, has charted an ambitious course for the incorporation of Artificial Intelligence (AI) into its education system. The country’s Ministry of IT & Telecom has forged a policy aimed at catalyzing the rise of AI, signaling its readiness to adapt to the rapidly evolving digital landscape. In its […]
Pakistan joins global trend in dumping USD for yuan
In a move reflecting the global shift towards de-dollarization, Pakistan has decided to purchase discounted Russian oil using the Chinese yuan. As part of the BRICS economic bloc’s efforts to conduct international trade in currencies other than the US dollar, Pakistan’s decision signals another transaction conducted using an alternative currency. Alternative payment for Pakistan amid […]
Pakistan citizens own cryptos worth more than $20B
TL;DR Breakdown Due to a lack of a regulatory framework, Pakistan nationals have invested heavily in cryptocurrencies. These investors are said to hold over $20B in cryptos which is more than what the country’s Central Bank has in foreign reserves. Per recent reports, Pakistan citizens own more holdings in cryptos than what their country owns […]
Pakistani Bank warns customers against trading cryptocurrencies
TL;DR Breakdown A major bank in Pakistan has warned its clients against trading cryptocurrencies. Bank Alfalah has warned its clients following the reveal that the State Bank of Pakistan (SBP) asked the Sindh High Court (SHC) to install a blanket ban on these assets. Bank Alfalah has asked its clients in Pakistan to distance themselves […]
Pakistan ranks as country with the third-highest crypto adoption worldwide
TL;DR Breakdown • TV host Wagar Zaka has been profiting from crypto since 2018.• Pakistan lifts sanctions against people who use cryptocurrencies. In most parts of the world, cryptocurrencies have been a priority for passive investments and other types of decentralized businesses. Pakistan enters the list of the most competitive countries when it comes to […]
Pakistan delists more than 1,000 accounts used for the cryptocurrency trade
TL; DR Breakdown The government of Pakistan took hold of bank accounts involved in cryptocurrency. It also disabled associated credit cards. The government has only restricted cryptocurrency trade, yet, it is not banned. The government of Pakistan took hold of scores of bitcoin merchants’ bank accounts and credit cards. They used the cards to execute […]
Pakistan province is taking “serious steps” to pilot crypto mining farms
TL;DR Breakdown Pakistan province KP is looking to establish two cryptocurrency mining farms. Among other things discussed by the committee, the government also plans to create a new crypto policy. Amid the burgeoning cryptocurrency market, the government of Khyber Pakhtunkhwa, a province in Pakistan, is looking to pilot cryptocurrency mining farms. Besides mining digital currencies, […]
Pakistan police arrest suspects in first Bitcoin robbery case
TL;DR Breakdown: Police have arrested two suspects involved in the recent Bitcoin robbery case in Pakistan. The prime suspect is still at large. The local police of Gujranwala have reportedly arrested two persons allegedly involved in the Bitcoin robbery case that happened in Pakistan earlier this week. According to the report today, the police said […]
Pakistan authorities are preparing to regulate crypto assets
The Pakistan SEC is seeking to formulate a regulatory framework. The SECP highlighted that the framework is important to assess the potentials of crypto while still protecting investors. A report on Thursday has informed that the Pakistan authorities are considering creating a regulatory framework to govern the trading of digital currencies in the country. Precisely, […]
Bitcoin ban questioned by Pakistani High Court
A two-year-old bitcoin ban decision in Pakistan has taken another twist with the Sindh High Court (SHC) questioning the move. Justice Muhammad Iqbal Kalhoro heard the petition regarding the ban on cryptocurrencies imposed by the State Bank of Pakistan back in 2018 following an appeal against the action. The highest court in the Pakistani province […]
Blockchain for education taking precedent in South Asia
Blockchain for education may be the new trend in South Asia. KEY Foundation initiates blockchain ecosystem in India. MadLab working with British Council and local stake holders for blockchain project in Pakistan. Blockchain adoption is generally on the rise, but blockchain for education is one of the most important uses of this technological advent. Especially […]
