Opening ceremony of the 7th International Conference on Energy, Environment and Sustainable Development held at Mehran University

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 Wednesday, February 19, 2025 Hyderabad (UrduPoint / Pakistan Point News - 19th February, 2025) The opening ceremony of the 7th International Conference on Energy, Environment and Sustainable Development organized by Mehran University of Engineering and Technology, Jamshoro, was held. Addressing the opening ceremony, Energy Sector Expert Engineer Irfan Ahmed said that an environmentally friendly energy transition is taking place, electricity is being generated from wind and solar energy, there are many wind power generation projects in Sindh and wind power is also cheap. He said that if the equipment is made in Pakistan, the cost of the projects will be reduced because at present most of the equipment is being purchased from abroad. He said that Pakistan has a lot of natural and natural sources and resources to generate environmentally friendly energy, but we are not using them properly. Engineer Irfan Ahmed said that due to the cost of buying equipment for wind power generation pr...
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The State Bank of Pakistan (SBP) stands by its old stance of not legalizing digital currency.

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 The position on cryptocurrency remains unchanged, and all financial institutions have been advised to avoid transacting in crypto. State Bank spokesperson

Tuesday, December 3, 2024


Karachi (News International New - 03 December 2024) The Central Bank of Pakistan says it is sticking to its old stance of not legalizing digital currency and has advised all financial institutions to refrain from transacting in crypto. In a conversation with the British Broadcasting Corporation, State Bank Spokesperson Noor Ahmed, while giving a written reply along with the circulars and notices issued by him regarding the use of digital currency in the past, said that the position regarding cryptocurrency remains unchanged.


Explaining the State Bank’s stance on cryptocurrency, Central Bank Spokesperson Noor Ahmed said in a written response that the State Bank had issued circulars in the past asking all financial institutions to refrain from transacting in cryptocurrency. In these circulars, all banks, development financial institutions, microfinance banks, payment system operators, payment service providers were directed to refrain from processing, using, trading, holding, transferring value, promoting and investing in cryptocurrencies or facilitating payments for buying and selling. The State Bank spokesperson, referring to the circulars, said that the bank has always warned the public about the serious risks and losses associated with investing in cryptocurrency due to the lack of legal protection for cryptocurrency. The State Bank spokesperson said that the central bank stands by its previous stance on cryptocurrency. There have been reports of legalization of cryptocurrency or digital currency in Pakistan for a long time and the State Bank of Pakistan has always denied these reports. In September 2023, the State Bank denied such reports circulating in the Pakistani media. The then spokesperson of the State Bank of Pakistan, Abid Qamar, rejected all these reports. It should be noted that the Central American country of El Salvador is the first country in the world to adopt Bitcoin as a legal currency in 2021. In 2021, the country's president resorted to Bitcoin as a currency to revive El Salvador's dollarized, remittance-dependent economy. Despite warnings from international organizations about the currency’s price swings, they have invested millions of dollars of taxpayer money in cryptocurrencies. The Central African Republic also legalized Bitcoin in 2022. Countries like Switzerland, Singapore, and Portugal have favorable tax laws for cryptocurrencies. Malta is called the “blockchain island” because it has created easy rules for crypto companies. Canada allows the use of crypto, but strict rules and tax laws are also in force on the use of this currency. India has not fully legalized digital currency but has imposed a tax on crypto transactions. Australia, Canada, and the United Kingdom do not ban the use of cryptocurrency, but specific laws and taxes apply to its use. China, Saudi Arabia, and Afghanistan have completely banned cryptocurrency.

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