PANews reported on May 31 that according to Cointelegraph, against the backdrop of energy shortages and budget negotiations, the International Monetary Fund (IMF) questioned Pakistan’s plan to allocate 2,000 megawatts of electricity for Bitcoin mining. The plan was announced last week and aims to attract autonomous miners, blockchain companies and artificial intelligence companies to Pakistan. The IMF has now asked the Pakistani Ministry of Finance to urgently clarify the legality and electricity allocation of cryptocurrency mining, especially as the country has long faced energy shortages and financial pressures.

Earlier news, Pakistan has allocated 2,000 megawatts of power capacity in the first phase of a nationwide plan to support Bitcoin mining and artificial intelligence data centers. The country is currently promoting the legalization of cryptocurrencies and attracting foreign investment. The Pakistani Ministry of Finance said in a statement that the plan, led by the Pakistan Cryptocurrency Commission, will also help monetize surplus energy and create high-tech jobs. The Ministry of Finance said that coal-fired power projects such as Sahiwal, China Hub and Port Qasim, which are currently operating at 15% of their capacity, are expected to be converted to this plan.