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Home Cryptocurrency Altcoins

rewrite this title No Cheap Power for Miners: IMF Blocks Pakistan’s Proposal

Editor-In-Chief, BitDegree by Editor-In-Chief, BitDegree
July 3, 2025
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Pakistan’s attempt to support its crypto mining sector with lower electricity prices has been blocked by the International Monetary Fund (IMF), according to a July 3 report by Business Recorder.

The idea, first introduced by Pakistan’s Power Division in September 2024, suggested offering cheaper electricity for six months to energy-intensive industries, such as crypto mining.

The goal was to make use of excess power and reduce the financial burden of unused electricity capacity. However, the IMF only agreed to a three-month version, and later changes that focused more directly on crypto miners were also rejected.

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Dr. Fakhray Alam Irfan, Secretary of the Power Division, spoke to lawmakers during a Senate committee meeting and said the IMF still has not approved any version of the proposal.

He noted that the plan is still being reviewed by the World Bank and other development partners, but so far, there has been no agreement.

The suggested pricing would have offered electricity at around $0.08 to $0.081 per kilowatt-hour (Rs 22–23/kWh). Officials said this rate matched the cost of producing the extra power, so it would not put more strain on the budget.

However, the IMF warned that such sector-specific discounts could harm the wider energy market. It pointed out that Pakistan’s electricity sector is already dealing with major financial issues, including circular debt that has grown to over $4.5 billion (Rs 1.275 trillion).

Meanwhile, Malaysia’s Access Blockchain Association recently raised concerns that the country risks missing out on the $5 billion cryptocurrency mining industry. How? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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