Prime Minister Shehbaz Sharif expanded his cabinet to 55 members on Monday by appointing Bilal Bin Saqib as Special Assistant on Blockchain and Cryptocurrency, granting him the status of a state minister.
Bilal Bin Saqib also currently serves as the Chief Executive Officer of the Pakistan Crypto Council (PCC), having recently been appointed Chief Advisor to the Finance Minister for the same council.
According to an official announcement, Saqib will be responsible for crafting a comprehensive, FATF-compliant regulatory framework for digital assets. His role will also involve launching Bitcoin mining projects and overseeing the integration of blockchain technology into governance, finance, and land records.
This appointment follows the federal government’s recent announcement to allocate 2,000 megawatts (MW) of electricity for the first phase of a national initiative to promote Bitcoin mining and AI data centres.
Read more: Govt allocates 2,000MW for AI data centres, bitcoin mining
In a related move, the Ministry of Finance has introduced a detailed strategy to regulate digital assets and advance the virtual asset economy in Pakistan. This plan includes the creation of the Pakistan Digital Assets Authority (PDAA), a body dedicated to overseeing blockchain-based financial infrastructure, according to an official statement.
The PDAA is set to regulate Pakistan’s $300 billion informal crypto market, facilitate the tokenisation of national assets and government debt, offer legal clarity for global and local investors, and harness Pakistan’s surplus electricity for regulated Bitcoin mining. Additionally, it aims to promote best practices, foster economic inclusion, and empower youth and startups to develop blockchain-based solutions at scale.
The Pakistan Crypto Council continues to champion crypto policy, youth empowerment, and global engagement. Pakistan has over 50 million crypto users and an annual trading volume exceeding $300 billion. It consistently ranks among the top five countries worldwide for crypto adoption, driven by its young, tech-savvy population.
With 70% of its 240 million population under the age of 30, Pakistan offers a demographic advantage for crypto adoption, positioning it as a leading emerging market for blockchain innovation. Pakistan also ranks as the third-largest freelancer market globally, with more than 50,000 IT graduates entering the workforce annually.
Who is Bilal Bin Saqib?
A London-based entrepreneur, Bilal Bin Saqib is known for his work in digital innovation and social impact. His contributions have been recognised by King Charles III, the late Queen Elizabeth II, and the Mayor of London. In 2023, he was awarded an MBE (Member of the British Empire) for his humanitarian efforts during the COVID-19 pandemic, including leading the One Million Meals initiative that delivered over 100,000 meals to NHS staff and vulnerable communities across the UK.
Saqib holds a Master’s in Social Innovation and Entrepreneurship from the London School of Economics (LSE) and received the 1632nd Points of Light Award from the British Prime Minister for his outstanding contributions to society.
Outside fintech, Saqib co-founded Tayaba, a social enterprise addressing Pakistan’s water crisis through the innovative H2O Wheel, designed to alleviate the burden of water collection for rural communities.
