
In a major move towards the adoption of cryptocurrency, Prime Minister Shehbaz Sharif has appointed Bilal bin Saqib as Special Assistant to the Prime Minister (SAPM) on Blockchain and Crypto, with the status of Minister of State.
Saqib's appointment as the SAPM follows his recent positioning as the chief advisor to the finance minister for the Pakistan Crypto Council (PCC), where he was appointed as CEO.
“This energy-backed digital transformation not only unlocks high-value investment but enables the government to generate foreign exchange in USD through Bitcoin mining,” Saqib stated.
The PCC CEO has become a notable figure in the blockchain fraternity, recognised by Forbes as a Web3 investor and strategic advisor. He also received the 1632nd Points of Light Award from the British Prime Minister and was honoured with an MBE in 2023 for his contributions to the UK's National Health Service.
His new post is said to be in line with Pakistan's plans to utilise surplus energy for digital infrastructure, for which the government recently announced the allocation of 2,000 megawatts (MW) of electricity for Bitcoin mining and AI data centres.
Pakistan could accumulate Bitcoin in a national wallet, becoming a holder of digital assets for long-term stability while ditching its conventional manner of selling power in PKR, he remarked.
To regulate blockchain-based financial infrastructure, as claimed by the finance ministry, the Pakistan Digital Assets Authority (PDAA) has been established.