- Sheikh reaffirms Pakistan’s position on Israel remains unchanged.
- Pakistan’s policy remains rooted in vision of Jinnah, says envoy.
- Sheikh affirms availability of ample reserves for crypto mining.
Islamabad is under no pressure from Washington to recognise Israel, Pakistan’s Ambassador to the US Rizwan Saeed Sheikh has said during a community event in Dallas.
Addressing the gathering, the ambassador spoke on a range of national and international issues, reaffirming that Pakistan’s position on Israel remains unchanged and is rooted in the vision of the country’s founder, Quaid-e-Azam Muhammad Ali Jinnah.
“Our policy towards Israel is consistent with Quaid-e-Azam’s ideology,” Ambassador Sheikh said, adding that Pakistan’s approach to the issue is based on longstanding principles and not influenced by external pressure.
The remarks come amid ongoing speculation in international media about changing dynamics in the Muslim world’s relations with Israel. Pakistan, which has no diplomatic ties with Israel, maintains that normalisation will only be possible after a just settlement of the Palestinian issue.
During the recent confrontation between the Middle Eastern arch-rivals Iran and Israel, Pakistan supported Tehran on its right to defence against the Israeli aggression.
Commenting on bilateral ties, Ambassador Sheikh said Pakistan-US relations are improving, noting that both countries are working to strengthen cooperation in areas such as trade, energy and technology.
In response to a question about investment opportunities, he pointed out that Pakistan has ample electricity reserves to support ventures like cryptocurrency mining — a sector gaining attention in the global digital economy.
It may be noted that Pakistan officially commenced the drafting of a comprehensive regulatory framework for digital and virtual assets, signalling a significant move by the government to formally oversee the booming cryptocurrency ecosystem last month.
Later, Islamabad and New York each launched dedicated Crypto Councils to promote responsible growth of the digital asset sector.
Earlier this month, the federal cabinet formally approved the summary for the creation of the Pakistan Virtual Assets Regulatory Authority (PVARA), a step towards establishing a legal and institutional framework for overseeing the country’s digital assets ecosystem.
As the country ramps up efforts to modernise its financial system, State Bank of Pakistan (SBP) Governor Jameel Ahmad also said that the central bank was preparing to launch a pilot for a digital currency and is finalising legislation to regulate virtual assets
Central banks globally are exploring the use of digital currencies as interest in blockchain-based payments grows.
Pakistan’s move follows similar steps by regulators in China, India, Nigeria and several Gulf states to test or issue digital currencies through controlled pilot programmes.
