PANews reported on July 3 that according to Cryptonews, the International Monetary Fund (IMF) has rejected Pakistan's plan to provide preferential electricity prices for cryptocurrency mining. The Secretary of Pakistan'sPANews reported on July 3 that according to Cryptonews, the International Monetary Fund (IMF) has rejected Pakistan's plan to provide preferential electricity prices for cryptocurrency mining. The Secretary of Pakistan's

IMF Rejects Pakistan’s Bitcoin Mining Energy Plan

2025/07/03 17:07

PANews reported on July 3 that according to Cryptonews, the International Monetary Fund (IMF) has rejected Pakistan's plan to provide preferential electricity prices for cryptocurrency mining. The Secretary of Pakistan's Ministry of Power told the Senate Electricity Committee that the IMF believes that the plan may increase the burden on the power system and cause market distortions. The Pakistani government is currently renegotiating the electricity subsidy plan with international organizations. The Senate Electricity Committee also discussed technical solutions to combat power theft and asked the power sector to submit detailed responses to related issues before the next meeting.

In May this year, the Pakistani government announced plans to allocate 2,000 megawatts of electricity for cryptocurrency mining and artificial intelligence data centers in an effort to attract foreign investment. The plan was promoted by the Pakistan Cryptography Committee and supported by the Ministry of Finance. However, the IMF pointed out that Pakistan did not consult with it before announcing the plan, and questioned the legality of cryptocurrency mining in the country and the additional pressure it could put on the already overwhelmed power grid.

Market Opportunity
FUND Logo
FUND Price(FUND)
$0.0092
$0.0092$0.0092
0.00%
USD
FUND (FUND) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

MAXI DOGE Holders Diversify into $GGs for Fast-Growth 2025 Crypto Presale Opportunities

MAXI DOGE Holders Diversify into $GGs for Fast-Growth 2025 Crypto Presale Opportunities

Presale crypto tokens have become some of the most active areas in Web3, offering early access to projects that blend culture, finance, and technology. Investors are constantly searching for the best crypto presale to buy right now, comparing new token presales across different niches. MAXI DOGE has gained attention for its meme-driven energy, but early [...] The post MAXI DOGE Holders Diversify into $GGs for Fast-Growth 2025 Crypto Presale Opportunities appeared first on Blockonomi.
Share
Blockonomi2025/09/18 00:00
Edges higher ahead of BoC-Fed policy outcome

Edges higher ahead of BoC-Fed policy outcome

The post Edges higher ahead of BoC-Fed policy outcome appeared on BitcoinEthereumNews.com. USD/CAD gains marginally to near 1.3760 ahead of monetary policy announcements by the Fed and the BoC. Both the Fed and the BoC are expected to lower interest rates. USD/CAD forms a Head and Shoulder chart pattern. The USD/CAD pair ticks up to near 1.3760 during the late European session on Wednesday. The Loonie pair gains marginally ahead of monetary policy outcomes by the Bank of Canada (BoC) and the Federal Reserve (Fed) during New York trading hours. Both the BoC and the Fed are expected to cut interest rates amid mounting labor market conditions in their respective economies. Inflationary pressures in the Canadian economy have cooled down, emerging as another reason behind the BoC’s dovish expectations. However, the Fed is expected to start the monetary-easing campaign despite the United States (US) inflation remaining higher. Investors will closely monitor press conferences from both Fed Chair Jerome Powell and BoC Governor Tiff Macklem to get cues about whether there will be more interest rate cuts in the remainder of the year. According to analysts from Barclays, the Fed’s latest median projections for interest rates are likely to call for three interest rate cuts by 2025. Ahead of the Fed’s monetary policy, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto Tuesday’s losses near 96.60. USD/CAD forms a Head and Shoulder chart pattern, which indicates a bearish reversal. The neckline of the above-mentioned chart pattern is plotted near 1.3715. The near-term trend of the pair remains bearish as it stays below the 20-day Exponential Moving Average (EMA), which trades around 1.3800. The 14-day Relative Strength Index (RSI) slides to near 40.00. A fresh bearish momentum would emerge if the RSI falls below that level. Going forward, the asset could slide towards the round level of…
Share
BitcoinEthereumNews2025/09/18 01:23
The Contrarian Truth: Why Bitcoin and Ethereum Prices Defy Social Media Sentiment

The Contrarian Truth: Why Bitcoin and Ethereum Prices Defy Social Media Sentiment

BitcoinWorld The Contrarian Truth: Why Bitcoin and Ethereum Prices Defy Social Media Sentiment Have you ever noticed that when everyone on social media is screaming
Share
bitcoinworld2025/12/20 07:45