
PTI slams 'death cell' detention of Imran
Addressing a news conference on Thursday, PTI Central Secretary for Information Sheikh Waqas Akram alleged that Khan was confined to a solitary detention for 22 hours daily, denied access to newspapers, television, books, and barred from meeting his legal team and close associates.
Akram said the conditions amount to psychological torture and a blatant violation of basic human rights. "Imran Khan is effectively cut off from the world. His fundamental right to meet six designated individuals is being denied despite explicit court orders, which constitutes contempt of court."
He added that similar restrictions have been imposed on Khan's wife, Bushra Bibi, who is allegedly being denied family visits, while Khan's sister, Aleema Khan, has also been prevented from seeing him.
Calling on the chief justice of Pakistan to intervene, Akram urged the judiciary to restore its "dwindling credibility and independence" in the face of what he termed the executive's open defiance of court rulings. "The violation of judicial orders is not just an insult to the courts but to the entire justice system."
The PTI spokesperson further questioned the recent disqualification of politician Jamshed Dasti, claiming that Article 62(1)(d) of the Constitution has never before been used to unseat public representatives and alleging that constitutional provisions were now being misapplied for political engineering.
Highlighting concerns over the health and treatment of other detained PTI leaders, Akram pointed to the "deteriorating condition" of Shah Mehmood Qureshi, the "systematic violation" of Dr. Yasmin Rashid's rights, and the continued imprisonment of Ejaz Chaudhry despite Supreme Court orders granting him bail.
On economic matters, Akram criticized the federal government over skyrocketing fuel prices, claiming petrol prices have surged by 82% over the past 15 months. "During PTI's term, petrol prices rose by Rs. 51, but the current government scrapped subsidies and pushed the price to Rs. 220 per liter," he said. He also accused the government of orchestrating a Rs. 92 billion sugar scandal, alleging that following the approval to export 765,000 metric tons of sugar, domestic supplies vanished from the market, sending prices soaring to Rs. 200 per kilogram.
Addressing the May 9 cases, Akram claimed that the prosecution's position has collapsed following the withdrawal of a key investigating officer.

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The emergence of Pakistan's regulatory framework for crypto assets unfolds not through a linear evolution but as a series of abrupt pivots, uncertain mandates, and fragmented institutional posturing. Initial state responses oscillated between prohibition and passive ambiguity, particularly crystallized through the State Bank of Pakistan's 2018 circular barring financial institutions from engaging with crypto-related activity. However, a noteworthy departure has occurred with the promulgation of the Virtual Assets Ordinance, 2025 ('the Ordinance') on July 8, 2025. This Presidential Ordinance, issued under Article 89 of the Constitution becoming effective immediately, defies parliamentary process and oversight as no emergency existed for not presenting it as a Bill before the Parliament. It reveals an institutional attempt to assert authority over a previously unregulated domain. Yet rather than embodying a product of rigorous legislative deliberation, the Ordinance resembles an amalgam of foreign statutes hastily adapted to domestic soil, lacking coherence and structural fidelity to Pakistan's socio-legal ecosystem. The Ordinance introduces a licensing and regulatory regime under which Virtual Asset Service Providers (VASPs) are to operate drawing clear inspiration from frameworks such as the European Union's Markets in Crypto Assets (MiCA) Regulation, the United Arab Emirates' VARA rulebook, and Singapore's Payment Services Act. For instance, the classification of VASP categories, as outlined in Schedule 1, closely mirrors MiCA's broad taxonomy of crypto-asset services. Inclusion of custody, exchange, and token issuance services under one regulatory umbrella reflects a consolidation seen in Singapore's Monetary Authority guidelines. Furthermore, capital requirements imposed under Schedule 2 strongly resemble United Arab Emirates' licensing prerequisites. Despite these parallels, the Ordinance suffers from superficial mimicry rather than thoughtful transposition. The Ordinance appears to have been drafted in undue haste, attempting to regulate a highly volatile and technically nuanced sector without erecting a solid and reliable institutional or legal foundation. References made to other existing Pakistani laws within the Ordinance, such as Anti-Money Laundering Act, 2010, Securities Act, 2015, and Companies Act, 2017, are broadly worded failing to adequately address issues specific to virtual currencies. These laws, originally fashioned for traditional financial instruments and corporate structures, lack definitional clarity and enforcement mechanisms appropriate for digital assets. Moreover, to date, no substantive amendments have been made to these foundational statutes to incorporate the realities and peculiarities of blockchain-based assets. Mere invocation of these statutes in the Ordinance does not bridge this gap. The use of generic cross-references to legacy financial legislation creates interpretive ambiguity, risking inconsistent application and regulatory arbitrage. The resulting legal uncertainty may inhibit development of a stable and predictable crypto-asset ecosystem. Ordinance's overreliance on non-specific statutory references undermines its credibility as a standalone regulatory framework exposing it to challenge both from a constitutional and administrative perspective. Inclusion of Schedule 1 in the Ordinance categorizing 'Virtual Asset Services' deserves scrutiny. The definitions employed, such as 'broker-dealer services' and 'exchange services', are broadly phrased and lack operational precision. For example, classification of 'broker-dealer services' in clause (c) as including trading on one's own account may inadvertently encompass individuals or businesses engaged in proprietary trading for treasury management purposes, creating overregulation and deterring legitimate activity. The exemption carved out for sole-account dealers is not sufficiently delineated and could be manipulated to escape oversight. Such drafting anomalies reflect a limited understanding of digital asset market dynamics. The category of 'custody services', defined as safekeeping or controlling virtual assets or means of access on behalf of customers, lacks an articulation of technical standards for security, segregation of assets, and recovery protocols in the event of platform insolvency or cyber compromise. In jurisdictions such as Switzerland and Germany, regulations include specific custody protocols and operational audits, with agencies like BaFin requiring compliance with these standards. Absence of these benchmarks in the Ordinance reveals a superficial regulatory posture. The 'exchange services' classification aggregates fiat-to-crypto and crypto-to-crypto conversions, as well as matching orders and maintaining order books. However, it provides no indication of technical, operational, or liquidity benchmarks for functioning as an exchange. No clear definition and requirements are laid down regarding prevention of wash trading or liquidity mirroring. The oversight of algorithmic trading and market manipulation risks, well-acknowledged internationally, is glaringly missing. The lack of granularity in these definitions may lead to both overreach and under-enforcement. Inclusion of lending and borrowing services appears forward-thinking, yet the clause fails to distinguish between collateralized, over-collateralized, and algorithmic lending models. Given the global controversies surrounding platforms like Celsius and Terra-Luna, the omission of risk buffers and liquidity thresholds in such definitions may lead to replication of failures within Pakistan's regulatory purview. The provision on derivatives services also lacks clarity on permissible underlying assets, leverage caps, margining, and clearing obligations. The Schedule's provision on fiat-referenced token issuance services, analogous to stablecoin issuance, requires a more robust framework. The Ordinance mandates establishment and administration of reserve assets but fails to define the nature, composition, and auditability of such reserves. This is in stark contrast to frameworks like MiCA, which require regular attestation of reserves, segregation of backing assets, and mandatory redemption rights. Without such safeguards, Pakistani consumers and investors remain exposed to systemic vulnerabilities. The capital requirements prescribed in Schedule 2 amplify the Ordinance's exclusionary tendencies. Imposing a minimum paid-up capital of billion on exchanges and token issuers effectively prohibits startups, SMEs, and even well-established fintechs from entering the market. This figure, though inspired by UAE and EU standards, disregards the local financial and technological environment. The Rs 100 million requirements for broker-dealer services and Rs 200 million for custody services are similarly prohibitive, especially when coupled with compliance, infrastructure, and legal costs. The Ordinance appears designed for incumbents and well-capitalized foreign players, erecting entry barriers that stifle domestic innovation. The economic impact of these high thresholds is likely to be severe. Startups and small and medium enterprises (SMEs) constitute the bulk of Pakistan's fintech and blockchain innovation ecosystem. 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