PM Appoints Special Assistant on Blockchain and Crypto

Prime Minister Shehbaz Sharif has taken a significant step towards embracing digital currency technology by designating Bilal bin Saqib as Special Assistant to the Prime Minister (SAPM) on Blockchain and Crypto. He will hold the status of Minister of State.

This development follows Saqib’s recent appointment as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council (PCC). He is also the Chief Executive Officer of the PCC.

Recognized by Forbes, Saqib is a Web3 investor, strategic advisor, and thought leader in the blockchain arena. He is also a recipient of the 1632nd Points of Light Award, which was presented by the British Prime Minister to honor change-makers in the UK.

In 2023, Saqib was awarded an MBE (Member of the British Empire) for his contributions to the National Health Service in the UK.

His appointment as state minister occurs as Pakistan seeks to utilize surplus energy for digital infrastructure development.

The government recently declared its plan to allocate 2,000 megawatts (MW) of electricity to support Bitcoin mining and AI data centers. This marks the initial phase of a national strategy designed to monetize excess energy, attract international investment, and position the country at the forefront of the digital revolution.

According to a statement from the Finance Division, this initiative, spearheaded by the PSCC under the Ministry of Finance, intends to transform Pakistan’s underused power capacity into a valuable asset.

Given the substantial and consistent power demands of AI and Bitcoin mining operations, Pakistan is repurposing its surplus electricity, particularly from underutilized power plants, into a potentially profitable venture.

Saqib stated that this energy-supported digital transformation not only opens avenues for high-value investment but also allows the government to generate foreign exchange in USD through Bitcoin mining.

He further indicated that Pakistan could eventually accumulate Bitcoin in a national digital wallet, moving away from selling power in PKR to holding digital assets to foster long-term financial stability.

The Ministry of Finance also announced the establishment of the Pakistan Digital Assets Authority (PDAA), which will regulate blockchain-based financial infrastructure.