ISLAMABAD, June 1, 2025: The International Monetary Fund (IMF) officials have conveyed their concerns over the Pakistan government’s announcement to allocate 2,000MW of electricity for Bitcoin mining and Artificial Intelligence centers.
READ MORE: Pakistan’s Bitcoin Wallet Unveiled, But Crypto Ban Isn’t Going Anywhere… For Now
The international lender is displeased with Pakistan making the announcement without consulting the IMF, and without consulting terms of the bailout program. IMF has also highlighted the concern that why such an allocation has been made while the legality of the cryptocurrency remains shrouded in confusion. The IMF officials have conveyed it to the government that policy decisions cannot be made unilaterally, without consulting the Fund.
The IMF is expected to bring these concerns into formal notice of the government in the upcoming virtual discussions with the federal government. The IMF team is scheduled to hold a meeting with the government over the proposed fiscal framework for the upcoming federal budget FY2025-26.
Last week, Pakistan unveiled first-ever strategic Bitcoin reserve, which was quickly followed by the Finance Secretary’s statement that the ban on digital currency will continue until proper regulations are made and implemented.
Afterwards, the federal government also announced that 2,000MW of electricity has been earmarked for Bitcoin mining and AI data centres under the Pakistan Crypto Council (PCC). The government said that this would be the excess electricity, that will be utilized for Bitcoin mining. It will also offer new employment opportunities, and will also offer a new avenue for inviting foreign direct investment (FDI) into the country.
READ MORE: Pakistan Announces Strategic Bitcoin Reserve
Media reports also said that government’s future plans involve establishing renewable energy plants for cryptocurrency projects, as well as partnerships with AI and blockchain companies. Fintech and innovation zones are also said to be on the cards for Pakistan’s cryptocurrency journey.
