{"id":35007,"date":"2025-07-03T11:01:47","date_gmt":"2025-07-03T11:01:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35007"},"modified":"2025-07-03T11:01:47","modified_gmt":"2025-07-03T11:01:47","slug":"imf-rejects-pakistans-proposal-to-subsidize-power-for-bitcoin-mining-reports","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35007","title":{"rendered":"IMF Rejects Pakistan\u2019s Proposal to Subsidize Power for Bitcoin Mining: Reports"},"content":{"rendered":"<div>\n<p>The International Monetary Fund (IMF) has rejected Pakistan\u2019s repeated proposals to provide subsidized electricity to bitcoin (BTC) mining and other energy-intensive industries, <a href=\"https:\/\/dunyanews.tv\/en\/Business\/892586-pakistans-crypto-mining-plan-hits-roadblock-as-imf-pushes-back\">according to reports<\/a>. <\/p>\n<p>Secretary of Power Dr. Fakhray Alam Irfan said that the IMF was concerned about market distortions in <a href=\"https:\/\/profit.pakistantoday.com.pk\/2025\/07\/03\/imf-rejects-pakistans-proposal-to-subsidise-electricity-for-crypto-mining\/\">a session with the Senate Standing Committee on Power <\/a>on Thursday. <\/p>\n<p>The government had planned to allocate 2,000 megawatts from its 7,000 MW electricity surplus to crypto mining at rates of 23-24 pakistani rupee ($0.08) per kilowatt-hour (kWh). However, the IMF remained unconvinced, warning that such incentives resemble tax holidays that often undermine market efficiency.<\/p>\n<p>The IMF questioned how the government would transition the subsidized electricity back to market rates and argued that similar concessions had failed to deliver results in the past.<\/p>\n<p>Originally pitched in September 2024 as a six-month marginal cost tariff package, the plan was scaled back to three months under IMF pressure. A follow-up targeted subsidy proposal in November was also rejected. <\/p>\n<p>Dr. Irfan added that the government were still in talks with international institutions to refine the plan.<\/p>\n<p>Pakistan&#8217;s government <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/05\/28\/pakistan-to-establish-a-bitcoin-strategic-reserve-allocate-2000-megawatts-of-energy-for-crypto-mining\">unveiled plans to establish a strategic bitcoin reserve and support BTC mining<\/a> in May inspired by the plans of President Donald Trump&#8217;s administration in the U.S. <\/p>\n<p>The country\u2019s Minister of State for Blockchain and Crypto cited the possibilities of giving the 100 million unbanked Pakistanis the tools for saving and investment as a motivation for the government&#8217;s plans.<\/p>\n<p>&#8220;We want them to break their economic classes. And I really believe that crypto and blockchain can help us take that quantum leap,\u201d Bin Saqib said at the Bitcoin 2025 conference in Las Vegas. <\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/16\/pakistan-engages-michael-saylor-in-bold-push-toward-bitcoin-backed-economy\">Pakistan Engages Michael Saylor in Bold Push Toward Bitcoin-Backed Economy<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has rejected Pakistan\u2019s repeated proposals to provide subsidized electricity to bitcoin (BTC) mining and other energy-intensive industries, according to reports. Secretary of Power Dr. Fakhray Alam Irfan said that the IMF was concerned about market distortions in a session with the Senate Standing Committee on Power on Thursday. The government [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35007","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35007"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35007\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}