The International Monetary Fund (IMF) wants Pakistan to urgently clarify its plans for the allocation of power to Bitcoin -mining in the midst of electricity shortages and tax problems of the country, according to a local news item. The IMF delegation is expected to hold a separate virtual session with the Pakistan ministery of finance to specifically discuss the electricity allocation.
Last week Pakistan announced that it will allocate 2,000 megawatt power to the functioning of Bitcoin mines and data centers of artificial intelligence (AI).
The IMF, which countries have repeatedly warned about the risks of governments that Bitcoin buy, has sanctioned a $ 2.4 billion loan earlier this month for Pakistan and is currently in discussion with the country about the budgetary plans.
According to sources from the Ministry of Finance, Pakistan did not walk in the IMF in his plans for power allocation to Bitcoin -Mybouw. However, with reference to sources that are familiar with the case, the local news item stated that the IMF has repeated its requirement that countries that receive help from the organization under the extensive fund facility (EFF) on all policy changes.
An official who was involved in the budget negotiations with the IMF told the local news exhaust Samaa:
“There is a fear of further difficult conversations of the IMF in this initiative [of allocating electricity to Bitcoin mining]. The economic team is already confronted with stiff questions, and this step has only added to the complexity of the current conversations. “
Pakistan is planning to re -use three underputed coal -fired power stations to offer electricity to Bitcoin -Mines and AI data centers. However, the IMF is worried about how the initiative will influence electricity rates and distribution.
In April, the National Electric Power Regulatory Authority of Pakistan announced cuts on electricity prices for a series of consumers. However, the cutbacks followed an increase in the basic power rates announced last year.
Pakistan makes rapid progress to embrace crypto
In recent months, Pakistan has quickly changed his position on cryptocurrencies, announced various plans and initiatives to adopt and regulate crypto assets.
In March the country founded the Pakistan Crypto Council (PCC) to regulate Crypto assets, to increase their adoption and integrate them into the financial landscape of Pakistan. At the beginning of April Pakistan appointed former Binance CEO Changpeng Zhao (CZ) as a strategic adviser to the council.
At the end of last month, World Liberty Financial, a decentralized financial project with narrow ties with President Donald Trump and his sons, signed a memorandum of agreement (MOU) with PCC.
On 21 May, after the PCC recommendation, the government founded the Pakistan Digital Assets Authority (PDAA) – attended an event by the American vice -president JD Vance and Trump’s Sons, Eric and Donald Trump Jr.
The PDAA would serve as a regulatory watchdog that is responsible for supervising the licenses of digital activities, which ensures compliance with the regulations of the Financial Action Task Force (FATF) and promoting innovation and promotes innovation.
At the Bitcoin 2025 conference on Thursday, Bilal Bin Saqib, Crypto advisor of Prime Minister Shehbaz Sharif, the first strategic bitcoin of the country, where the IMF investigation was drawn. Saqib, who also announced the launch of a National Bitcoin portion, noted:
“Our young people are online and on the chain. Pakistan, with more than 40 million crypto portfolios and an average age of 23, is now recognized for his future instead of the past.”