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ISLAMABAD: The upper House of Parliament on Friday passed a bill for regulating virtual assets as well as the ‘establishment’ of the Pakistan Virtual Assets Regulatory Authority (PVARA) — a body already set up under an ordinance approved by the president in July last year.

The development comes as the ordinance was set to lapse in early March.

The rules were suspended in the Senate to take up the bill, which was moved by Finance Minister Muhammad Aurangzeb, for immediate consideration.

The preamble of the bill, a copy of which is available with Dawn, stated that it was expedient to establish a dedicated virtual assets regulatory authority to licence, regulate and supervise virtual assets and virtual asset service providers to “ensure investor protection, transparency and market integrity in Pakistan”.

It further stated that it was necessary to provide a comprehensive legal framework to empower the said authority to combat money laundering, terrorist financing, proliferation financing and other illicit activities involving virtual assets, in accordance with international standards.

Regulatory authority

The bill provides for the establishment of the Pakistan Virtual Asset Regulatory Authority, envisioning it as an autonomous corporate body empowered to licence, regulate and supervise virtual asset service providers and issuers in the country.

Elaborating on the body’s functions, the legislation says it will “protect customers and investors and the integrity of Pakistan’s virtual asset markets by establishing and enforcing appropriate safeguards and conduct of business requirements, prudential and operational-resilience, risk-management standards, and measures to prevent money laundering, terrorist financing and other illicit use of virtual assets”.

It shall also attract investment and encourage companies operating in the field of virtual assets to base their businesses in Pakistan.

Moreover, PVARA shall “promote responsible innovation, digital financial inclusion and the development of compliant virtual asset markets within a framework that manages risks and supports financial stability and market integrity”.

The body shall promote, develop, govern, and regulate the adoption, deployment, and scalable use of blockchain technology and distributed ledger technology across Pakistan, the bill further states.

The legislation also states that PVARA will coordinate with the Financial Monitoring Unit, National Anti-Money Laundering and Counter Financing of Terrorism Authority and other relevant authorities, as well as law enforcement agencies, to combat money laundering, terrorist financing and other illicit activities associated with virtual assets, in accordance with the Anti-Money Laundering Act, 2010, other applicable laws and international standards.

The regulatory body will also advise the government on “regulatory, supervisory, technical or emerging-risk matters relating to virtual assets, digital asset markets, tokenisation, stablecoin structures, blockchain, distributed ledger technology, cyber-risks or any matter connected with its mandate”.

The bill also authorises PVARA to devise “regulations, standards, directives, guidelines, handbooks and circulars, or any other instrument”, consistent with the objectives of the legislation and other applicable laws.

It will also be authorised to set risk-management, cybersecurity, data protection and technical standards and “issue, vary, suspend or revoke licences, approvals or directives under this Act and prescribe conditions for such actions”.

The bill further states that it may prescribe licencing conditions, eligibility criteria, renewal requirements and any additional obligations for those issued licences under the yet to be formalised PVARA law.

It will also be authorised to conduct on-site inspections and off-site monitoring of licencees and other entities to ensure compliance with this PVARA law and other relevant rules and regulations.

Moreover, the bill states, the body may also ensure compliance with “data protection, data governance and cyber security obligations by virtual asset service providers subject to supervisory follow-up”.

It will also be empowered to impose administrative sanctions in accordance with the provisions of the PVARA law and “levy such fees, charges and penalties as may be prescribed by rules” devised under this law.

PVARA will also operate regulatory sandboxes in a “transparent and accountable manner” and “enter into cooperation or mutual assistance arrangements with domestic and foreign regulators and law enforcement agencies to facilitate information sharing and coordinated action, including mutual recognition of regulations and licences”, the bill states.

It further details that the body will comprise a chairperson — who will be appointed by the federal government — two secretaries, from the law and finance ministries each, State Bank of Pakistan’s governor, Securities and Exchange Commission of Pakistan chairperson, National Anti-Money Laundering and Counter Financing of Terrorism Authority chairman, Pakistan Digital Authority chairperson and two independent directors “with proven expertise and a strong track record possessing expertise relevant to virtual asset markets, digital technology and digital finance”.

The directors will also be appointed by the federal government.

“The members of the authority, other than ex-officio members, shall hold office for a term of three years and shall be eligible for one further term of three years,” the bill states.

Penalties

The bill states that “whoever, willfully, provides an unlicenced virtual asset service shall be punishable with imprisonment for a term up to five years, or with fine up to Rs50 million, or both”.

It adds that whoever conducts an initial virtual asset offering in contravention” of the rules and regulations established under the PVARA law shall be punishable with imprisonment for a term up to three years or with fine up to Rs25m or with both.

The bill also penalises market manipulation and insider trading.

It further states that “a virtual assets appellate tribunal shall be established and no court shall take cognisance of a legal dispute under this Act or the rules or regulations made thereunder to which the jurisdiction of the Virtual Assets Appellate Tribunal extends”.

The tribunal’s jurisdiction has been described as: “Any virtual asset service provider, licencee, or any other person aggrieved by an order of the PVARA may prefer an appeal before the Virtual Assets Appellate Tribunal within 30 days of the date on which the order was communicated.”

In July last year, the government had announced that President Asif Ali Zardari had approved the ‘Virtual Assets Ordinance, 2025’ to establish an independent regulator for virtual assets and cryptocurrencies.

However, an official statement from the office of the state minister referred to it as the ‘Virtual Assets Act, 2025’, leading to confusion and concerns about why the draft law had not been moved to the National Assembly or Senate, as required for a bill to become an act of parliament.

The confusion was clarified later when the authorities confirmed to Dawn that the regulation was not an act of parliament but rather an ordinance, issued under Article 89 of the Constitution. The provision allows the president to issue an ordinance in urgent matters when both houses are not in session; such ordinances remain in effect for 120 days and do not require passage through the National Assembly and Senate.

In November last year, the Senate extended the Virtual Assets Ordinance, 2025, for another 120 days.

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ISLAMABAD: After Afghan Taliban forces used “rudimentary drones” to target various parts of the country, a ban has been imposed on flying unmanned aerial vehicles (UAVs) of any kind across the country.

The development comes as several ‘drone attacks’ were reported from across part of Khyber Pakhtunkhwa. Subsequently, during his press briefing, Inter-Services Public Relations (ISPR) chief Lt Gen Ahmed Sharif Chaudhry stated that Afghan forces attempted to use “rudimentary drones” to attack areas like Swabi and Abbottabad.

“However, the anti-drone system over there and the effective deployment took them out,” he said.

According to local reports, at least six people were injured in three drone attacks in Bannu, Swabi and Abbotabad.

In Bannu, a mosque in the Mirbaz Barkazai area was targeted by a quadcopter around Iftar, leaving five worshippers injured. The attack occurred in the evening, while people were inside the mosque breaking their fast.

The incident in Swabi, which occurred near a girls’ school, was one of the first reported incidents of a drone attack in the area. According to Assistant Superintendent of Police Muhammad (ASP) Numan, at least one schoolgirl was injured, while other children narrowly escaped.

The incident occurred in Pabbini, a village located in the mountainous region of Gadoon Amazai, when children were playing near the school. The school had closed early on account of Friday, and the injured girl, identified as Amna, had just stepped out when the drone struck.

ASP Numan said that the injured girl was taken to the hospital for treatment, while residents of the village gathered in large numbers at the site of the attack.

“It was a self-made drone that also contained explosives,” he told Dawn.

Meanwhile, in Abbotabad, no loss of life or property was reported when a drone flying over the cantonment area was brought down by forces around 1pm, the local DPO confirmed.

Ban on drone flying

In view of drones being used, ostensibly by Afghan Taliban forces, to stage attacks inside Pakistani territory, drone-flying has been banned across the country.

In a letter addressed to the chief secretaries of Punjab, Karachi, Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashmir and Gilgit-Baltistan as well as the Islamabad chief commissioner, the interior ministry said, “It has been decided to impose an immediate ban on outdoor flying of quadcopters/ UAVs with immediate effect and until further orders.”

It added: “In this regard, the provincial governments are requested to ensure strict enforcement of said ban.”

Subsequently, the administrations of Islamabad, Khyber Pakhtunkhwa, Gilgit-Baltistan, Sindh and Balochistan notified a comprehensive ban on flying UAVs of any sort, for different periods of time.

Punjab had already banned the flying of drones and UAVs in its jurisdiction for 30 days, starting on Wednesday.

The Islamabad administration banned the use of drones, phantoms and camcopters in the federal capital for a period of two months under Section 144 of the Code of Criminal Procedure, which can be extended for another two months.

The ban applies to everyone, except law enforcement agencies and the Islamabad administration.

A spokesperson for Gilgit-Baltistan police told Dawn that flying drones had been banned in all districts with immediate effect, on the orders of the interior ministry.

The region witnessed demonstrations in favour of the Pakistan Army, and security checking was also heightened following the skirmishes between Pakistan and Afghanistan.

In Khyber Pakhtunkhwa, the Home and Tribal Affairs Department issued a notification banning the use of drones, quadcopters and UAVs for one month, classifying it as a “direct or indirect threat and … potential risk to the lives and properties of citizens as well as infrastructure of the government”.

In a separate notification, the additional chief secretary of Sindh also imposed a similar restriction on the use of helicams, drones, UAVs and quadcopters for two months.

The ban, however, would not apply to law enforcement or intelligence agencies and would be enforced by local police.

The Balochistan home department also imposed an immediate and complete ban on the use, possession, and operation of drones, UAVs, quadcopters, camcopters, and other remote-controlled aerial devices across the province.

According to an official notification, the decision was taken in view of security concerns, including the potential use of such devices for surveillance, espionage, transportation of prohibited items and explosives, spreading fear and panic, and disrupting law and order.

The measure was described as necessary to safeguard public safety and protect sensitive installations, public gatherings, key personalities, and official convoys.

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Syed Irfan Raza and Iftikhar A. Khan in Islamabad, Jamil Nagri in Gilgit, Manzoor Ali in Peshawar, Rashid Javed in Abbottabad, Muqaddam Ali Khan in Swabi and Muhammad Waseem Khan in Bannu contributed to this report.

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Additional input from APP

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• Explosion occurs in Killi Mahmoodabad on outskirts of border town
• Children gathered at a tribal elder’s house to receive yoghurt after breaking their fast
• President Zardari extends condolences to victims’ families

QUETTA: Seven children aged between 8 and 14 years were killed and 22 others, including women and children, were injured when a gas cylinder exploded in a house in Chaman, a town on the Pak-Afghan border, on Thursday.

Officials said the tragic incident occurred in Killi Mahmoodabad, a locality on the outskirts of the district headquarters, Chaman.

According to police officials, children from neighbouring houses had gathered at the house of one of a tribal elder to receive yoghurt to eat after breaking their fast. Meanwhile, a powerful explosion occurred in the kitchen, rocking the border town. The blast blew off the roof of the kitchen and damaged other rooms of the house. The children waiting for yoghurt were buried under the debris.

Rescue teams, along with police, rushed to the site and launched a rescue operation. “Seven children were found dead when the debris was removed,” police said, adding that 22 injured persons, including four women and 18 children, were shifted to the Civil Hospital Chaman.

“We had received seven bodies of children and 22 injured at the Civil Hospital Chaman,” Dr Owais, Medical Superintendent of the hospital, confirmed. He added that the injured included four women and 18 children.

Police said the intensity of the blast completely destroyed the kitchen and badly damaged other rooms of the house. “The children lost their lives after being buried under the debris, while the injured were also trapped beneath the rubble,” officials said, adding that the women injured in the blast were cooking food when the gas cylinder exploded.

Four women and six children who sustained serious injuries were later shifted to the Civil Hosp­ital Quetta for further treatment.

The district administration expressed deep sorrow and grief over the incident, extended condolences to the families of the deceased children, and ordered an investigation to determine the cause of the explosion.

Authorities have urged citizens to take precautionary measures while using domestic gas cylinders to prevent such tragic incidents in the future.

Meanwhile, in a statement, Pre­sident Asif Ali Zardari extended his heartfelt condolences to the bereaved families, particularly those who lost their children in the blast. “I share the grief of the families who have lost their loved ones, and my thoughts are with them during this difficult time,” he said.

“May the departed souls rest in peace, and may the bereaved families be granted patience and strength,” he added. The president also prayed for the speedy recovery of those injured in the incident.

Published in Dawn, February 27th, 2026

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Pakistan launched Operation Ghazab lil-Haq against the Afghan Taliban, after the neighbouring country opened unprovoked fire on multiple locations across the border in Khyber Pakhtunkhwa on Thursday.

In response, leaders across the political spectrum were united in their stance, lauding the country’s armed forces and asserting that any aggression from Kabul would be responded to firmly.

President Asif Ali Zardari said Pakistan will not compromise on peace and territorial integrity.

“Our armed forces’ response is comprehensive and decisive. Those who mistake our peace for weakness will face a strong response — and no one will be beyond reach,” he warned.

In a statement released by the Prime Minister’s Office, Prime Minister Shehbaz Sharif said the people and armed forces of Pakistan were always ready to protect the security, sovereignty and territorial integrity of the country.

“There will be no compromise on the defence of the beloved homeland and every aggression will be met with a befitting reply,” he said.

“The Pakistani armed forces are equipped with professional capabilities, high training and effective defence strategies and are fully capable of dealing with any internal or external challenge,” PM Shehbaz said.

He said that while Pakistan has always promoted peace, the integrity of the country will not be compromised, and the Pakistani armed forces will resolutely confront every aggression.

Defence Minister Khawaja Asif said: “Our brave armed forces are currently delivering a crushing response to the proxy Taliban and Afghan aggression from India. Defeat is the enemy’s inevitable fate, God willing.”

In a post on X, he also called on the PTI government in Khyber Pakhtunkhwa to stand shoulder-to-shoulder with the federation and other provinces in defending the homeland.

Balochistan Chief Minister Sarfraz Bugti, in a post on X, strongly condemned Afghan Taliban’s unprovoked firing along the Pak-Afghan border in KP.

He said it “has been met with an immediate and effective response” by Pakistan’s security forces under the command of Chief of Defence Forces and Chief of Army Staff Field Marshal Syed Asim Munir.

“Pakistan will defend its territorial integrity and ensure the safety of its citizens at all costs,” he said, adding that the “safe heavens of terrorists in Afghanistan will not be spared at any cost”.

Punjab Chief Minister Maryam Nawaz kept her message short, saying, “Long live Pakistan.”

Sindh Senior Minister Sharjeel Memon, shared a verse from the Holy Quran, adding: “Long live Pakistan.”

National Assembly Speaker Ayaz Sadiq, meanwhile, strongly condemned the unprovoked aggression by Afghanistan along the Pak-Afghan border, and paid tribute to the security forces for their immediate and effective retaliation.

“Afghanistan has become a proxy of India and is destabilising peace in the region, he said, adding: “Afghanistan, at India’s behest, is carrying out terrorist activities against Pakistan.”

“The entire nation stands shoulder to shoulder with its security forces for the protection of national sovereignty and security,” the NA speaker said.

PTI Chairman Barrister Gohar Khan said that while “we will establish peace with our neighbours wherever possible, we will never hesitate to counter the threats posed to Pakistan from their side”.

“Response to Afghanistan’s aggression against Pakistan will be given with full force. Pakistan’s security forces, God willing, will defend their homeland with the prayers of the nation — our prayers and support are with them. Long live Pakistan!” he said.

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Defending champions India thrashed Zimbabwe by 72 runs in their Super Eights T20 World Cup match on Thursday, a result that guaranteed South Africa a place in the semi-finals.

India posted a mammoth 256-4 and then restricted Zimbabwe to 184-6 in Chennai to make their clash with West Indies in Kolkata on Sunday a winner-takes-all decider for the last semi-final berth.

South Africa hammered the West Indies by nine wickets earlier in Ahmedabad.

At Chennai’s M A Chidambaram stadium, opener Abhishek Sharma blasted 55 and Hardik Pandya an unbeaten 50 as India piled up the second highest total in the history of the tournament after being invited to bat first.

“I think we wanted to leave everything behind. We didn’t think too much about what we did in the league stage or in the last game in Ahmedabad,” said India captain Suryakumar Yadav.

“With contributions from the top order right down to number seven, I think there was hardly anything missing in our performance.

He said they had not thought about what is now a knockout match against the West Indies on Sunday.

“Once we reach Kolkata, we’ll sit down and plan properly for that game,” Suryakumar said.

“For now, it’s about taking a day off, travelling, and relaxing.”

Zimbabwe, who stunned Australia and Sri Lanka to reach the Super Eights, were never in the chase despite a brisk start as the asking rate kept rising.

Opener Brian Bennett was not out 97, the highest individual score by a Zimbabwean in T20 World Cup history, as his side exited the semi-final reckoning with a game still to play.

India’s left-arm quick Arshdeep Singh took 3-24 from his four overs.

‘Willing to improve’

“We are also a work in progress,” said Zimbabwe captain Sikandar Raza.

“We have a lot of youngsters, most of them are playing their first World Cup, first time ever in India for us.

“Not that I want to use that as an excuse, but certainly the lessons from the last game, from a batting point of view, I thought we took them really well.

“And you can see how quickly these boys are willing to improve and they showed up today.”

Zimbabwe’s bowlers conceded 510 runs in 40 overs in two Super Eights matches after West Indies posted 254-6 against the tournament’s surprise packages on Monday.

Raza won the toss and opted to field for the second match running, and again saw his bowlers flogged to all parts.

Left-handed Abhishek, who had struggled with three ducks in four innings in this tournament, hit four fours and four sixes to return to form.

Pandya and left-handed Tilak Varma, who hit a 16-ball 44, put on an unbeaten stand of 84 at the end, but India came up just short of the T20 World Cup record score of 260-6 made by Sri Lanka against Kenya in 2007.

Wicketkeeper-batsman Sanju Samson returned to the team to break the left-handed opening combination of Abhishek and Ishan Kishan and handed India a flying start.

Samson fell for 24 off Blessing Muzarabani but Abhishek kept up the charge, reaching his fifty off 26 balls in a 72-run stand with Kishan (38).

Abhishek fell to Tinotenda Maposa, caught at long-on, but his knock laid the platform for a big total. Skipper Suryakumar hit 33 off 13 balls.

Pandya finished with a flourish with two sixes off Brad Evans to get to 50 on the final ball of the innings.

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WITHIN hours of the bombing of an Islamabad Imambargah on Feb 6, Pakistani intelligence and law enforcement zeroed in on a home in Hakimabad, Nowshera, 49km east of Peshawar.

“It was a race against time. Sifting through technical data, establishing coordinates and isolating the target,” a senior security official said. “It didn’t take long before we knew the location.”

By late evening, they had already laid siege to the residence, taken up position and called out those inside to come out, hands raised, and surrender.

For a moment, there was no movement. But then, someone showed a raised hand from behind the door, indicating their willingness to surrender. Except that he didn’t.

Aiming a 9mm gun straight at the security cordon, the lone gunman fired straight shots, hitting an assistant sub inspector of the police right in the chest, killing him on the spot, and injuring two intelligence officers.

The exchange of fire didn’t last long, though.

Within minutes, the gunman, said to be in his mid-thirties, was shot and killed. But the brief distraction offered by the gun battle gave those inside the house sufficient time to destroy cellphones and any other evidence of communication that could possibly betray them.

The gunman turned out to be a high-value target — identified as Yousaf alias Qasim aka Idrees — the leader of the militant Islamic State-Khorasan (IS-K) group in the Bajaur region, and the main handler of the Imambargah suicide bomber, carrying a reward of Rs12 million.

What followed was more startling, as the counter-terrorism department dug further into this cell’s activities. The gang, it turned out, had been involved in a series of assassinations and suicide bombings before stepping out of the tribal district to relocate to Gujranwala, Lahore and finally to Nowshera’s Hakimabad.

Investigators now have enough evidence to link them to the targeted assassination of all 20 men involved in the lynching to death of an IS-K operative, out to kill a local JUI-F leader for issuing a scathing attack against it.

They were also linked to the assassination of senior JUI-F figure Mufti Sultan Mahmood in Bajaur in October 2019, a suicide bombing at the party’s convention on July 30, 2021 that left more than 54 dead and over a hundred wounded, and the bombing and assassination of ANP leader Maulana Khanzeb on July 10, 2025.

Additionally, investigators say, the group was involved in the killings of at least 15 policemen, as well as the murder of the Nawagai assistant commissioner in a bombing on July 2, 2025.

Investigators say that Idrees — a tailor by profession — had been on their radar for some time, but had managed to evade capture by changing locations, moving with women and children, and avoiding staying at one location for longer periods.

“Pretty much living like nomads, leaving whatever little they had behind before moving onto the next location without notifying the landlord,” was how one official described his movements.

What surprised investigators the most was the role of the women in the group. Investigators have now established that not only did the suicide bomber travel to Afghanistan’s Kunar in May 2025, the women had also crossed the border using tampered passports.

Not only that, but one of the women had carried the suicide vest from Bajaur to Islamabad, and handed it over to another woman in the group. “They are all indoctrinated. The whole family is radicalised,” a senior investigator said.

As investigators dig deeper into the working and operations of IS-Khorasan, there is a realisation that its network is far bigger and more spread out than previously thought — from the Middle East to Central Asian Republics, and onwards into Afghanistan and Pakistan.

They use cryptocurrency for money transfer and employ encrypted communication apps, making their communications very hard to break.

Based on what they have learned, investigators now consider IS-Khorasan a much bigger threat than the outlawed Tehreek-i-Taliban Pakistan in terms of its capability for mass killing, compartmentalisation, commitment to ideology, resources and the sophistication of their operations.

Published in Dawn, February 26th, 2026

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ISLAMABAD: President Asif Ali Zardari has summoned a joint session of Parliament on March 2, at the start of the new parliamentary year.

A notification issued by the National Assembly Secretariat on Wednesday said that in exercise of the powers conferred by clause (1) of Article 54 read with clause (3) of Article 56 of the Constitution, the president has summoned both Houses of Parliament to assemble together at the Parliament House in Islamabad on March 2 (Monday) at 10:30am.

Earlier, a post on the Presidency’s X account stated that he had approved the summary for convening the session.

The post also said that the session would be convened at 3pm on March 2. Later, the National Assembly Secretariat issued its notification, in which the time was revised to 10:30am.

The session is being convened in continuation of the practice of a joint sitting behind held at the start of every parliamentary year.

According to Article 56 of the Constitution, the president addresses both Houses of parliament at the start of the first session of each parliamentary year.

This will be President Zardari’s ninth address to a joint session of Parliament in the capacity of a president.

During his address, he is expected to outline national priorities, democratic stability, constitutional supremacy and sustainable economic development.

His speech is also expected to cover the regional and global situation, terrorism and the resolve and commitment to eradicate it.

It is also expected that President Zardari could be ‘harsh’ towards the government, as in the recent past he has criticised some of its policies and complained that it did not take ruling allies, including the PPP, on board in the decision-making process.

One reflection of this stance was seen when the president recently returned some important government bills without his consent, despite them having been passed by both Houses of Parliament.

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