Islamabad — The International Monetary Fund (IMF) has requested an explanation from the government for reducing electricity tariffs without prior consultation.
Sources indicate that Pakistan and the IMF have agreed to continue virtual negotiations to ensure progress under the loan program.
IMF Concerns and Demands
Sources revealed that the IMF expressed serious concerns about allocating electricity for Bitcoin mining and artificial intelligence (AI) due to the unclear legal status of cryptocurrencies.
The IMF emphasized that all measures taken under the loan program must be done in consultation to maintain financial stability.
Further Discussions Expected on Bitcoin Mining
It was also disclosed that virtual talks will continue regarding the supply of electricity for Bitcoin mining, where tougher questions and recommendations are expected.
The economic team is facing stringent questions from the IMF during budget negotiations, with further debate on the electricity allocation likely.
Need for Transparency in Economic Policy
The IMF has stressed that financial reforms and government decisions under the loan program should follow principles of transparency and consultation to stabilize the country’s economy and ensure debt repayment.
