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Blocked the attempt by Pakistan to support his crypto mining sector with lower electricity prices According to a July 3.
The idea, first introduced by Pakistan’s power supply department in September 2024, Proposed by offering cheaper electricity for six months in energy intense industrysuch as crypto mining.
The goal was to use excess power and reduce the financial burden of unused electrical capacity. However, the IMF agreed only to a quarterly version, and later the later changes that focused directly on the crypto miners were rejected.
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Dr. Fakhray Alam Irfan, Secretary of the Department of Power, spoke with the legislators during a meeting of the Senate Committee and said that the IMF had not yet approved any version of the proposal.
He noted that the plan is still reviewing the World Bank and other development partners, but so far there has been no agreement.
Proposed Prices would offer electricity from about 0.08 to $ 0.081 per kilowatt (RS 22-23/kWh). Officials said this rate corresponds to the cost of production of additional power, so it will no longer progress to the budget.
However, the IMF warned that Such discounts specific to the sector could harm the wider energy market. It was pointed out that the Pakistani Electric Sector is already engaged in the main financial issues, including a circular debt that has grown to over $ 4.5 billion ($ 1,275 trillion).
Meanwhile, the Malaysian Access Blockchain Association recently caused concern that the country risks to missing the Kripto Rudar Cripto industry of $ 5 billion. How? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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