Govt taking serious steps for introducing crypto mining

Advisor to KP CM on Science and Information Technology (S&IT), Ziaullah Bangash Wednesday said that the on directives of the Chief Minister Mahmood Khan, the provincial government was taking serious steps for introducing crypto mining.

He said that after consultations with all stakeholders and experts following legal procedure they are ahead of other provinces in launching crypto mining and its block chain in the country. He was jointly presiding over a meeting of the Advisory Committee established for crypto mining along with Provincial Minister for Finance, Taimur Saleem Khan Jhagra and Advisor to Chief Minister on Food, Mian Khaleeq-ur-Rehman here.

Other members of the committee including MPAs Dr Sumaira Shams, Humaira Khatoon, Ayesha Bano, Shagufta Malik, Anita Mehsud, Rehana and technical experts included Waqar Zaka, Ahmad Ruma, Abdul Wahid, Ghulam Ahmad, Barrister Salman, Secretary S&IT Hamayun Khan, Managing Director IT Board, Dr Ali Mahmood, Director IT Board, Asim Jamshid and Director Science and Information Technology, Khalid Khan also attended the meeting.

The advisory committee in its maiden meeting decided the formation of sub-committees to dispose of different matters while a block chain committee comprising Ahmad, Atif and Wajid was also formed. All committees would be headed by an MPA. Other committees were technical and coordination committees.

The coordination committee would be comprised of MPAs and technical members to hold talks with stakeholders including State Bank of Pakistan (SBP), Federal Board of Revenue (FBR) and other institutions.

During meeting, the MD IT Board, Dr Ali Mahmood also recommended the constitution of a committee on block chain. Beside, review of different technical matters, the committee would also review the use of technology in different departments and related aspects to prepare recommendations in this regard.

Talking to the participants of the meeting, the Advisor to KP CM said due to huge potentials of hydro power in the province, crypto mining would prove highly beneficial in the environment of the province. He said that the provincial government is also making efforts for legislation regarding crypto mining and invited all experts to submit their proposals on the website of the KP IT Board.

He said that those taking interest in crypto mining should file applications and added that in this connection a seminar would also held for public awareness very soon.

On this occasion, the Provincial Minister for Finance, Taimur Saleem Jhagra said that the provincial government is taking in view legal status of the crypto mining and feedback of from other stakeholders including SBP and FBR. He said that they are making all out efforts to fulfill all legal procedures before launching crypto mining and like other countries we should also take benefit of it.

The Advisor to KP CM on Food, Mian Khaleeq-ur-Rehman said that we should also utilize the experience of other countries and required to introduce easy and simplified system to attract industries and stressed need for awareness campaign to inform about crypto mining.

Ziaullah Bangash directed all sub-committees to present their proposals in the upcoming meeting of the advisory committee and also directed technical committee to furnish a detailed on the introduction of hydropower including crypto mining farms and its expenditures.

On this occasion, members of different technical members gave their proposals and legal opinion regarding crypto mining and the advisory committee was advised to deal crypto mining in shape of software and not as currency, saying under the adopted procedure all powers will rest with the provincial government.