Pakistan is one of the top ten countries with the highest adoption of digital assets but lacks a regulatory framework. The Government of Pakistan has recently announced the intent to regulate technology to support the ecosystem and has set up a Pakistan Crypto Council. As an emerging institution, the Center will provide a place for policy research and training, incubation and testing of technologies, and collaboration opportunities for technology students, entrepreneurs, industry, and the government.

To mark its official launch, CeDAR hosted an international conference at LUMS to enable connection, knowledge transfer, and collaboration between global experts in the Web 3.0 ecosystem and the regulatory and governmental organisations in Pakistan. The CEOs and senior management of leading global companies such as Zodia Markets (based in the UK and UAE, and owned by Standard Chartered Bank), Haruko (based in the UK and Singapore), Scope Markets (UK), Klickl (UAE), Dragonstone Capital (China), Binance, Fasset (UAE), attended the event, along with leading domestic fintech companies and Venture Capital funds such as Abhi Bank, KTrade, TPL, Brillianz Group, Alfalah Investments, Zayn VC, and NayaPay.

“LUMS has always been a hub of cutting-edge research and innovations, and I am proud to have a long association with the Syed Babar Ali School of Science and Engineering. Crypto networks are likely the biggest tech resolution since the internet itself. This new collaboration on crypto not just strengthens my association with LUMS but can prepare the next generation of engineers and entrepreneurs to architect the next generation of the internet by leveraging the blockchain technology”, said Dr. Muneeb Ali. The event highlighted the importance of industry-government collaboration to accelerate blockchain adoption and enhance financial inclusion in Pakistan.

The conference facilitated roundtable conversations with leaders from key domestic stakeholders such as the State Bank of Pakistan (SBP), the Securities and Exchange Commission of Pakistan (SECP), and the Pakistan Banking Council.

The event covered key topics such as ways to ensure compliance and regulation for the industry, the utilisation of excess energy for digital asset mining, how digital assets fit in for investment allocation, and how Pakistan can best develop a technical workforce for such technologies.

With CeDAR now operational, LUMS is positioned as a leading hub for blockchain education and research, offering immense opportunities for innovation and development in Pakistan’s tech sector.

Lahore, December 18, 2024: What role do governance and inclusion play in building resilient and equitable societies? This question brought together leading voices from Pakistan and the diaspora at LUMS during the third annual Pathways to Development Conference, held from December 16-18. The event convened academics, policymakers, and practitioners to explore pressing issues, from climate justice and poverty alleviation to digital innovation and gender equality.

Jointly organised by the Chaudhry Nazar Muhammad Department of Economics and Mahbub Ul Haq Research Centre (MHRC) at LUMS, Centre for Economic Research in Pakistan (CERP), Institute of Development & Economic Alternatives (IDEAS), Institute of Development Studies at University of Sussex (IDS), Consortium for Development Policy Research (CDPR), and International Growth Centre (IGC), the conference featured 20 engaging sessions showcasing cutting-edge research and thought leadership.

Mr. Maroof A. Syed, President and CEO of CERP, opened the conference by emphasising, “Progress demands reimagining governance as a dynamic, participatory process.” The event also featured a powerful statement by Justice Mansoor Ali Shah, Supreme Court of Pakistan, who declared, “Climate finance is the new climate justice,” urging courts to recognise it as a fundamental human right and calling on the global north to address its “climate debt.”

Keynote speaker Dr. Lant Pritchett, London School of Economics, cautioned against using the low-bar poverty line as a starting point and emphasised the importance of state capability. Dr. Mazhar Waseem, University of Manchester, delivered the second keynote, discussing Pakistan’s “filing obsession puzzle,” where more tax filers have not led to higher revenues. He called for targeted enforcement and better systems to improve tax compliance and revenue generation.

The conference featured discussions on land rights, debt restructuring, health governance, and crisis response. Distinguished speakers, including Dr. Ali Cheema, LUMS; Dr. Murtaza Syed, Asian Infrastructure Investment Bank; Ms. Fauzia Viqar, Federal Ombudsperson for Protection Against Harassment of Women, Mr. Ikram ul Haq, Punjab Land Records Authority, and Dr. Hadia Majid, LUMS, offered insights into tackling these challenges through research and policy.

Discussions also turned to electoral dynamics, gender development, and social change. The conference not only showcased groundbreaking research but also sparked meaningful dialogue and offered actionable pathways toward a sustainable, inclusive Pakistan.