IMF Rejects Pakistan’s 2,000 MW Crypto Mining Proposal
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BTCCSquare news:
The International Monetary Fund has blocked Pakistan's plan to allocate subsidized electricity for crypto mining operations, citing concerns over market distortions. The proposal, which aimed to attract foreign investment by offering discounted power to energy-intensive industries, was dismissed during discussions with the Senate Standing Committee on Power.
Secretary Power Dr. Fakhray Alam Irfan confirmed the IMF's opposition, noting that surplus winter capacity wouldn't be directed toward mining ventures. Pakistan continues negotiating with international bodies to revise its energy strategy while addressing systemic issues like electricity theft.
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