During a meeting in San Salvador, Pakistan Crypto Council Chief Bilal Bin Saqib discussed collaboration opportunities in Bitcoin and blockchain with El Salvador President Nayib Bukele.
Meeting with El Salvador's President
Bilal Bin Saqib, CEO of Pakistan's Crypto Council and special assistant to the Prime Minister, met with El Salvador's President Nayib Bukele in San Salvador. In a post on X, he described Bukele as 'one of the most extraordinary visionary leaders of our time.'
Collaboration on Bitcoin
As a result of the meeting, a Letter of Intent was signed between El Salvador's Bitcoin Office and the Pakistan Crypto Council. The agreement establishes a formal framework for collaboration on Bitcoin initiatives, focusing on public sector adoption, blockchain-driven financial inclusion, and policy development tailored to emerging economies.
IMF Issues and Digital Transformation
Meanwhile, the International Monetary Fund (IMF) expressed concerns about Pakistan’s plans to use surplus electricity for crypto mining. This month, the IMF rejected a proposal to subsidize electricity for specific sectors, including Bitcoin miners.
The collaboration between Pakistan and El Salvador highlights the commitment of both countries to develop their digital economies, despite challenges and concerns from international financial organizations.
