Crypto mining to begin in Pakistan within weeks, announces Bilal Bin Saqib

Pakistan Virtual Regulatory Authority (PVARA) Chairman Bilal Bin Saqib has said that crypto mining activities will begin in Pakistan within the next few weeks.

In an exclusive interview with ARY News, Bilal Bin Saqib said that several new technologies have emerged for bitcoin mining and that mining cards can be installed at power plants to support the process.

He said the first phase of crypto mining would be launched shortly, after which public concerns would be addressed. Saqib stated that crypto mining would enable Pakistan to convert surplus electricity into dollar-denominated revenue, helping improve the country’s economic outlook.

Responding to a question, Bilal Bin Saqib said that according to a 2025 analytical report, Pakistan ranks third globally in crypto-related activity. He recalled that in 2018, the State Bank of Pakistan had issued directives to banks regarding cryptocurrency transactions.

He noted that Pakistan previously lacked a legal framework for digital assets, prompting the government to establish a dedicated regulatory authority. He added that PVARA is now promoting a licensing regime for crypto-related activities.

Bilal Bin Saqib said emerging technologies such as robotics and quantum computing were not declared illegal at their inception but were regulated over time, adding that the same regulatory approach applies to cryptocurrencies.

He further said the authority is working on blockchain regulation linked to cryptocurrencies, warning that failure to move forward could increase the risk of Pakistan returning to the Financial Action Task Force grey list.

According to him, the rising trend of cryptocurrency adoption in Pakistan is largely driven by youth, who are preparing for future technologies. He said it is the government’s responsibility to create opportunities for them.

Citing Singapore as an example, he said the country had launched a government-backed security pilot project, adding that Pakistan could also raise funds through capital markets rather than relying solely on the IMF.