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IMF Turns Down Pakistan’s Proposal to Subsidize Power for BTC Mining: Reports
- The International Monetary Fund has rejected Pakistan's proposal to subsidize electricity tariffs for crypto mining and other industries, warning it could strain the power sector and create market distortions.
- Secretary of Power Dr. Fakhray Alam Irfan confirmed that the IMF declined to approve any targeted subsidies due to negative economic impacts similar to tax holidays.
- Despite the IMF's refusal, Dr. Irfan stated that the government is still in talks with international entities to revise the proposal.
- Senator Shibli Faraz criticized the agreement with banks to reduce circular debt, stating it was coercive and could lead to future consumer levies.
21 Articles
21 Articles
Cryptonews.com
http://coinprofitnews.comIMF Rejects Pakistan’s Energy Plan for Bitcoin Mining – What Does This Mean for Its Crypto Ambitions?
IMF Turns Down Pakistan’s Proposal To Subsidize Electricity For Bitcoin Mining: Report ⋆ ZyCrypto
The post IMF Turns Down Pakistan’s Proposal To Subsidize Electricity For Bitcoin Mining: Report ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement The International Monetary Fund (IMF) has rejected Pakistan’s bid to offer subsidised electricity to Bitcoin mining operations, dealing a significant blow to the nation’s bold plans to become a regional crypto hub shortly after its high-profile debut of its first strategic Bitcoin reser…
Pakistan’s Bitcoin Mining Dreams Derailed by IMF Objections
Despite having excess power during the winter, the IMF remains firmly against targeted energy discounts — particularly those tied to crypto-related activities. The country had hoped to allocate 2,000 megawatts from its national grid to power both Bitcoin mining and AI data centers. The initiative, led by the Pakistan Crypto Council, aimed to attract foreign investment, boost tech jobs, and establish the country as a digital infrastructure hub. O…
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