Islamabad: The International Monetary Fund (IMF) has expressed serious concerns over Pakistan’s move to supply electricity to sectors like Bitcoin mining and artificial intelligence (AI).
According to sources, the IMF has formally demanded an explanation from the government of Pakistan for not consulting the Fund on this matter and for lacking a clear stance on electricity tariffs related to these sectors.
Sources further revealed that virtual talks between the IMF delegation and Pakistani officials will soon take place regarding the provision of electricity to Bitcoin mining operations. The IMF has also questioned the justification of allocating electricity to cryptocurrency mining when crypto assets have not yet been granted legal status in Pakistan.
The IMF maintains that any major decision under the loan program must involve full consultation with the Fund. During ongoing budget discussions, Pakistan’s economic team has reportedly faced tough questions from the IMF, particularly concerning the sensitive issue of power allocation.
It has also been confirmed that both Pakistan and the IMF have agreed to continue virtual negotiations on all economic matters to avoid potential misunderstandings.
