ISLAMABAD: Prime Minister Shehbaz Sharif has appointed Bilal bin Saqib as his special assistant on blockchain and cryptocurrency, expanding the total strength of the federal cabinet to 61.`The prime minister, in terms of rule 4(6) of the Rules of Business, 1973 read with serial number IA of Schedule V-A of the rules ibid, has been pleased to appoint Mr Bilal Bin Saqib, as Special Assistant to the Prime Minister on Blockchain and Crypto, with the status of Minister of State, with immediate effect, said a notification issued by the cabinet division.

Despite tall claims of austerity and belt-tightening, the PML-N-led federal government has swelled the size of the federal cabinet to 61. This includes as many as 31 federal ministers, 11 ministers of state, nine special assistants to the PM, five advisers and as many coordinators.

The finance ministry had earlier on Feb 25 announced it was considering `establishing a National Crypto Council` to adopt emerging digital currencies in line with global trends. It later appointed Saqib as chief executive officer of the PPC.

According to a press release issued today, Saqib will now be responsible fordeveloping a comprehensive, FATFcompliant regulatory framework for digital assets, launching Bitcoin mining initiatives, and overseeing blockchain integration in governance, finance, and land records.

Additionally, he will also facilitate `licensing and oversight of virtual asset service providers` and champion `investor protection and Web3 ecosystem growth` in the country.