Prime Minister Shehbaz Sharif on Friday directed authorities to fast-track the operationalisation of a comprehensive, internationally aligned regulatory framework for virtual assets to boost investor confidence and accelerate Pakistan’s digital economy.

The directive came during a meeting with Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, according to a statement issued by the Prime Minister’s Office.

The premier stressed that a robust and effective regulatory system must be made fully functional at the earliest to support innovation while ensuring oversight in the emerging sector.

He also called for targeted initiatives to equip youth with skills in modern technologies, particularly artificial intelligence and digital finance, to align the country’s workforce with future economic demands.

During the briefing, Saqib informed the prime minister about PVARA’s transition into a fully operational regulator and the launch of a regulatory sandbox.

The prime minister was told that innovation is being introduced in areas such as AI-powered payments and regulated virtual asset services, while preparations are underway across institutions, workforce development, and regulatory frameworks for the next phase of economic transformation.

Earlier this month, the State Bank of Pakistan announced a major policy shift with the enactment of the Virtual Assets Act 2026, under which PVARA has been designated as the statutory authority responsible for licensing, regulation, and oversight of virtual asset activities in the country.

The authority has also made it clear that any agreements or pilot projects involving virtual assets will require prior approval.