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Pakistan inks deal with trumP-linked cryPto firm to exPlore usd-backed stablecoin Thursday, 15 January, 2026 | 25 Rajabul Murajjab, 1447
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PVARA SAYS MOU SIGNED WITH SC FINANCIAL TECHNOLOGIES, AFFILIATED WITH WORLD LIBERTY FINANCIAL
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FINANCE MINISTER SAYS DIGITAL INNOVATION WILL BE PURSUED IN LINE WITH REGULATION AND NATIONAL INTEREST
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Rs 20.00 | Vol XVI No 191 | 8 Pages | Karachi Edition
AGREEMENT TO EXPLORE DIGITAL PAYMENTS AND CROSS-BORDER SETTLEMENT SOLUTIONS
STABLECOIN TO OPERATE ALONGSIDE PAKISTAN’S EXISTING DIGITAL CURRENCY INFRASTRUCTURE
cdf munir reaffirms Pakistan’s commitment to economic stability, investor confidence RAWALPINDI
Staff report
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ISLAMABAD
SaleeM Jadoon
AKISTAN has signed an agreement with a company affiliated with World Liberty Financial, the main crypto platform linked to the family of US President Donald Trump, to explore the use of a dollar-backed stablecoin for cross-border payments, the government announced on Wednesday. The Pakistan Virtual Asset Regulatory Authority (PVARA) said, in a statement, it had signed a memorandum of understanding (MoU) with SC Financial Technologies, described as an affiliated entity of World Liberty Financial. The
agreement will allow dialogue and technical engagement around emerging digital payment architectures. This development marks one of the first publicly announced partnerships between World Liberty Financial—a crypto-based finance platform launched in September 2024—and a sovereign state. It also coincides with warming bilateral ties between Pakistan and the United States. Under the agreement, SC Financial Technologies will collaborate with Pakistan’s central bank to explore integrating its USD1 stablecoin into a regulated digital payments framework, allowing it to operate alongside Pakistan’s existing digital currency infrastructure, a source
Pakistan climbs in global passport rankings for 2026 ISLAMABAD
Staff report
Pakistan’s passport has recorded a modest improvement in global mobility, moving up two places in the latest Henley Passport Index 2026, where it now ranks 98th, compared to 100th last year. The improvement reflects Pakistan’s ongoing diplomatic engagement and recent international agreements that have gradually expanded travel access for its citizens. The index, compiled by Henley Passport Index, ranks passports based on the number of destinations holders can visit without obtaining a visa in advance. According to the 2026 rankings, Pakistani passport holders can now travel to 31 destinations either visa-free, with visa-on-arrival, or through electronic travel authorisation. Pakistan shares its current ranking position with Yemen. Visafree access is available to destinations such as Barbados, Dominica, Haiti, Micronesia, Montserrat, St Vincent and the Grenadines, Trinidad and Tobago, and Vanuatu, offering opportunities for leisure and shortterm visits without traditional visa requirements. Several countries provide visa-on-arrival facilities to Pakistani travellers, including Burundi, Cambodia, Cape Verde Islands, Comoro Islands, Cook Islands, Djibouti, Guinea-Bissau, Madagascar, Maldives, Mozambique, Nepal, Palau Islands, Qatar, Samoa, Senegal, Sierra Leone, Timor-Leste, and Tuvalu. In addition, electronic travel authorisation options are available for Kenya, Seychelles, and Sri Lanka, further easing entry procedures for short stays. At the top of the global rankings, Singapore holds the number one position, described as the world’s most powerful passport. Japan and South Korea share second place, while Denmark, Luxembourg, Spain, and Sweden occupy the third position. The United Kingdom ranks seventh, and the United States stands at tenth in the global list.
A delegation of World Liberty Financial (WLF) USA led by Zachary Witkoff, Chief Executive Officer of a leading global Fintech firm, called on Field Marshal Syed Asim Munir, NI (M), HJ, COAS & CDF, according to the military’s media wing. In a statement, the Inter-Services Public Relations (ISPR) said the meeting reflected the growing interest of international private investment groups in Pakistan’s evolving economic landscape and also signals rising global confidence in Pakistan’s fintech potential
involved in the deal told Reuters. The announcement came during a visit to Pakistan by Zach Witkoff, cofounder and CEO of World Liberty Financial and CEO of SC Financial Technologies. Witkoff, son of US special envoy Steve Witkoff, met with senior Pakistani stakeholders to discuss digital payment infrastructure, cross-border settlements, and foreign exchange processes, according to the regulator. Finance Minister Muhammad Au-
and aims to strengthen financial inclusion and cross border digital finance. Mr Witkoff highlighted the immense economic potential Pakistan holds and lauded the efforts of Pakistan’s leadership in embracing futuristic technologies to realize the full possibilities of its economic prowess. Field Marshal Syed Asim Munir welcomed the exchange of views and emphasized Pakistan’s commitment to economic stability, investor confidence, and enabling an environment conducive to responsible private sector participation in national development.
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rangzeb said, “Our focus is to stay ahead of the curve by engaging with credible global players, understanding new financial models, and ensuring that innovation, where explored, is aligned with regulation, stability, and national interest.” SC Financial Technologies, registered in Delaware, co-owns the USD1 stablecoin brand with World Liberty Financial, according to documentation on the token’s reserves from July 2025.
PM Shehbaz confirms several countries in ‘active talks’ for JF-17 fighter jets
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President in bahrain: trade, defence, and strategic ties take centre stage MANAMA/ISLAMABAD Staff report
President Asif Ali Zardari on Wednesday held high-level talks with Bahrain’s King Hamad bin Isa Al Khalifa in Manama, focusing on trade, investment, defence cooperation, and regional and global issues. The president, accompanied by First Lady Bibi Aseefa Bhutto-Zardari, arrived in Bahrain on Tuesday for a four-day state visit. He was accorded a ceremonial guard of honour at the royal residence, Al-Qudaibiya Palace, where the discussions took place. According to a post on the Presidency’s X account, the talks “covered trade and investment, defence cooperation, support for the Pakistani community, and regional and global issues.” During the visit, President Zardari was conferred the Order of Shaikh Isa Bin Salman Al Khalifa First Class, Bahrain’s highest civilian award, in recognition of his efforts to strengthen bilateral relations. The discussions at Al-Qudaibiya Palace centred on expanding cooperation across political, economic, defence, and cultural sectors. President Zardari stressed the need to translate strong political ties into enhanced trade and investment, highlighting opportunities in agriculture, information technology, healthcare, tourism, and infrastructure. He also invited Bahraini investors to Pakistan and underscored the role of the Special Investment Facilitation Council in promoting a businessfriendly environment. The two leaders reviewed defence and security collaboration, reaffirming institutional links between their armed forces. They also discussed regional and international developments, with President Zardari stressing the importance of unity, restraint, and collective resolve in times of global uncertainty. Highlighting the Pakistani community in Bahrain, the president thanked the Bahraini leadership for hosting over 116,000 Pakistanis, calling them a vital bridge between the two nations. He also acknowledged the King’s gift of the King Hamad University for Nursing and Allied Medical Sciences in Islamabad as a symbol of enduring friendship.
Pakistan condemns indian nsa’s ‘avenge history’ remarks
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ISLAMABAD
Staff report
ISLAMABAD
Staff report
Prime Minister Shehbaz Sharif on Wednesday confirmed that several countries were “actively” engaged in talks with Pakistan for the acquisition of its fighter jets, saying international demand had risen following Pakistan’s victory in a war last year—an apparent reference to the four-day military conflict with India in May 2025. Addressing a meeting of the federal cabinet, the prime minister said that growing interest in Pakistan’s defence equipment would strengthen indigenous defence production and provide a boost to the national economy. “There are several countries that are actively engaged in talks with Pakistan on this, and this will boost our defence production and benefit our economy,” PM Shehbaz said. In recent weeks, reports have emerged indicating that Pakistan is in discussions with several friendly countries regarding the sale of the JF-17 Thunder, a light combat aircraft jointly developed by Pakistan and China and manufactured domestically. Earlier, Defence Production Minister Raza Hayat
Hiraj also told BBC Urdu that Pakistan was engaged in negotiations with “multiple” countries for the export of the JF-17 fighter jet. “These negotiations are taking place and they take some time. Many countries have shown interest in these aircraft,” the minister said in an interview published on Tuesday. He declined to disclose the names of the interested countries or the stage of the negotiations. “I cannot take the name of any country. Neither can I tell on what level our negotiations are with any country,” he said, adding that such matters were a country’s “jealously guarded secrets.” “When these jets are exported, then the world will know which countries have bought them,” Hiraj added. The minister emphasised that Pakistan would only export the JF-17 to friendly countries to ensure the aircraft were not used against its own interests. He also noted that China remained fully involved in any such deal, given its role in the aircraft’s development.
Pakistan’s Foreign Ministry on Wednesday strongly criticised Indian National Security Advisor Ajit Doval for urging Indians to “avenge our history” and build a strong nation, saying such remarks reflected “imagined historical vendettas” rather than responsible statecraft, according to a Foreign Office spokesperson. According to Indian media reports, Doval made the comments while addressing youth at an event in New Delhi, calling on them to learn from India’s past struggles and harness the powerful force of “vengeance” to strengthen the country in areas including security and the economy. Responding to media queries, Foreign Office spokesperson Tahir Andrabi described the remarks as “hardly surprising coming from camouflaged hate-mongers,” adding that such narratives undermined regional peace and stability. He emphasised that constructive engagement, dialogue, and adherence to international norms were essential for lasting stability in South Asia. Pakistan and India, both nuclear-armed neighbours, have long experienced strained relations, marked by enduring disputes—including over Kashmir—and periodic military crises. Tensions most recently escalated into a four-day conflict in May 2025, one of the worst military confrontations between Islamabad and New Delhi in decades, before a ceasefire was reached. Analysts say statements invoking revenge risk further inflaming already fragile relations and could complicate efforts to maintain peace along the borders.
US to suspend immigrant visa processing for Pakistan, 74 other countries from Jan 21: State Department WASHINGTON
Monitoring report
The US has announced a suspension of immigrant visa processing for Pakistan and 74 other countries, effective January 21, citing concerns that immigrants from these nations often rely on public welfare programmes. The State Department said the freeze will remain in place until authorities can ensure that new immigrants will not draw on American taxpayer resources. Officials described the measure as part of the administration’s “America First” approach. “We are working to ensure the generosity of the American people will no longer be abused,” an official said. State Department spokesperson Tommy
Piggott said in a statement that his department “will use its long-standing authority to deem ineligible potential immigrants who would become a public charge on the United States and exploit the generosity of the American people“. “Immigration from these 75 countries will be paused while the State Department reassesses immigration processing procedures to prevent the entry of foreign nationals who would take welfare and public benefits,” he added. Among the countries affected by the freeze are Somalia, Haiti, Iran, Eritrea, Afghanistan, Bangladesh, and Pakistan, covering regions in Asia, Africa, Europe, and the Americas. All categories of US immigrant visas— including family, employment, and diversity visas — are impacted.
IMPACT ON PAKISTANIS: The suspension could delay travel, study, and work plans for thousands of Pakistanis who annually seek US visas. Pakistani consulates in the US are expected to provide guidance to affected applicants in the coming days.
PUBLIC-CHARGE RULE: The visa freeze is linked to the US public-charge rule, which evaluates whether immigrants are likely to rely on government assistance. While suspensions of visa services have occurred in the past, officials said the scope of this action is unprecedented. No timeline has been given for resuming visa services, but the State Department assured that countries would be notified once the review is complete.
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