Islamabad:
The International Monetary Fund (IMF) sought to clarify the government for not taking confidence with the allocation of 2000 megawatts of electricity for bitcoin mining and artificial intelligence data centers.
The sources told Express News that international Monetary Fund officials will face the issue with the government during the virtual reaction. They stated that the International Monetary Fund had requested how this allocation could be allocated without specifying the legal status of the encrypted currency.
The fund said that all decisions should be taken within the framework of the International Monetary Fund program after mutual consultation. The sources said that the government team will face difficult questions during its talks on the new financial budget. They said that both sides agreed to a virtual consultation contract on all matters.
A report indicating the Ministry of Finance said last week that Pakistan has allocated 2000 megawatts of electricity for bitcoin mining and artificial intelligence data centers as part of the first phase of the national initiative that seeks to turn Pakistan into a global leader in digital innovation.
This initiative is led by the Pakistan Cheap Council (PCC), a government -backed organization, as part of a broader plan to use excess electricity, generate high job opportunities, and attract foreign investment, according to the ministry.
He added that the allocation is the first stage of arranging the largest stages of digital infrastructure, which represents a great milestone in the digital transformation in Pakistan.
The Ministry of Finance noted that the upcoming developments are likely to have a renewable -powered facilities, and the global strategic partnerships with the Blockchain and Upper companies, the creation of Fintech and Hubs.
