PM’s assistant on crypto Bilal Bin Saqib meets Elon Musk’s father
Unique Assistant to Prime Minister (SAPM) on Crypto and Blockchain Bilal Bin Saqib, held a noteworthy meeting in New York with Errol Musk, daddy of billionaire business owner Elon Musk. The minister shared a photograph of the meeting on social platform X, in which Errol Musk is seen welcoming him warmly. The image quickly gained attention, particularly offered the growing significance of blockchain conversations in global finance.
According to Saqib, Errol Musk remarked throughout the meeting, ‘The marketplace has lastly gotten. Let’s not destroy it.’ The quote was seen by observers as a subtle referral to ongoing worldwide economic volatility and the value of responsible innovation in tech and finance. Bilal Bin Saqib added in his post that the world desires higher alignment in between powerful innovators and decision-makers. ‘The world wants Tesla and Trump in the exact same group chat for peace and development,’ he composed, suggesting that coordinated global discussion is essential for geopolitical and technological stability.
The meeting is being deemed a symbolic moment as Pakistan looks for to enhance its positioning in emerging technologies, particularly in the areas of digital assets and blockchain.
A day earlier, SAPM on Crypto and Blockchain Bilal Bin Saqib consulted with over a dozen key United States federal government officials and lawmakers this week in Washington to enhance cooperation in the areas of digital assets, blockchain policy, and financial technology. The visit also served to share Pakistan’s initiatives– including the recent announcement of its Strategic Bitcoin Reserve, efforts to develop a virtual asset regulatory framework, and using stablecoins to improve remittances and expand financial access.
The exchanges highlighted the need for closer global coordination and the role emerging markets like Pakistan can play in shaping the next chapter of the digital economy.
Last week, the Ministry of Finance reported that Pakistan allocated 2,000 megawatts of electricity for Bitcoin mining and AI data centers as part of a national effort to make Pakistan a leader in digital innovation. This initiative, led by the Pakistan Crypto Council (PCC), aims to use excess electricity, develop state-of-the-art projects, and attract foreign investment. The allocation marks the first phase of a wider digital infrastructure rollout.
Future developments are expected to include renewable energy-powered facilities, global partnerships with blockchain and AI companies, and the establishment of fintech and innovation hubs.
On the other hand, the government and the central bank reiterated on Thursday that the use of cryptocurrencies was illegal and anyone dealing in these currencies was liable to be investigated by the Financial Monitoring Unit (FMU) and the Federal Investigation Agency (FIA). The statements were made by Federal Finance Secretary Imdad Ullah Bosal and State Bank of Pakistan (SBP) Executive Director Sohail Jawad during a meeting of the National Assembly Standing Committee on Finance.
The development also came a day after the newly appointed Special Assistant to the Prime Minister on crypto and blockchain, Bilal Bin Saqib, made a pitch for the promotion of cryptocurrencies during his visit to the United States. Crypto is not a legal currency in Pakistan, said Bosal. He suggested that the committee invite the Pakistan Crypto Council (PCC) for more briefing. SAPM Bilal Bin Saqib is also the CEO of the PCC. ‘The deal with the cryptocurrencies is at a very, really preliminary stage and whenever the government decides to take it further, we would recommend to first have a comprehensive legal and regulatory framework for it,’ Bosal stated, adding that so far, there was no such structure.
