The International Monetary Fund (IMF) rejected the repeated proposals of Pakistan to provide subsidized electricity to Bitcoin
Mining and other energy -intensive industries, depending on reports.
Power secretary, Dr. Fakhray Alam Irfan, said the IMF was concerned about distortions of the market during a session with the Senate Committee for power on Thursday.
The government had planned to allocate 2,000 megawatts from its surplus electricity of 7,000 MW to the exploitation of crypto at rates of 23-24 Pakistani rupees ($ 0.08) per kilowatthe hour (kWh). However, the IMF is not convinced, warning that such incentives are like tax days that often undermine market efficiency.
The IMF asked how the government would transition from the electricity subsidized to market rates and argued that similar concessions had not provided results in the past.
Initially presented in September 2024 as a six -month marginal cost rate package, the plan was reduced to three months under the pressure of the IMF. A prospective for a targeted follow -up subsidy in November was also rejected.
Dr. Irfan added that the government was still in talks with international institutions to refine the plan.
The Government of Pakistan has revealed plans to establish a Bitcoin strategic reserve and support the mining of the BTC in May inspired by the administration of the administration of President Donald Trump in the United States
The Minister of State of the Pays de la Blockchain and Cryptography has cited the possibilities of giving the 100 million Pakistanis not banished the tools of savings and investment as motivation for the government’s plans.
“We want them to break their economic courses. And I really believe that crypto and blockchain can help us take this quantum jump,” Bin Saqib said at the Bitcoin 2025 conference in Las Vegas.
Read more: Pakistan hires Michael Saylor in a daring thrust to the economy supported by Bitcoin
