ISLAMABAD:
The International Monetary Fund (IMF) has asked the government to explain why it was not consulted before allocating 2,000 megawatts of electricity for Bitcoin mining and AI data centers.
According to sources speaking to Express News, IMF officials plan to address this issue during an upcoming virtual meeting with government representatives. The IMF has questioned how such a significant energy allocation could be made without first determining the legal status of cryptocurrencies.
The Fund emphasized that all major decisions should be made in coordination with the IMF program and through mutual consultation.
Sources also revealed that the government delegation is expected to face rigorous questioning during discussions on the new fiscal budget, with both parties agreeing to hold virtual consultations on these matters.
Last week, the Ministry of Finance reported that Pakistan has set aside 2,000 megawatts of electricity for Bitcoin mining and AI data centers. This move is part of the initial phase of a national project aimed at positioning Pakistan as a global leader in digital innovation.
The initiative is spearheaded by the Pakistan Crypto Council (PCC), a government-backed body, and is designed to leverage surplus electricity, create high-tech jobs, and attract foreign investment.
This allocation represents the first step in a broader, multi-stage plan to build digital infrastructure, marking a key milestone in Pakistan’s digital transformation.
The Finance Ministry added that future phases will likely include facilities powered by renewable energy, strategic partnerships with leading blockchain and AI companies worldwide, and the establishment of fintech and innovation hubs.
