The International Monetary Fund has refused to fully recommend Pakistan’s proposal for subsidies tariffs aimed at promoting Bitcoin mining operations, reported by local media outlet profits reported on July 3.
According to the report, Fakhray Alam Irfan, chairman of the Pakistani Senators’ Power Committee, revealed that the IMF has been approved for only three months from the proposed six months.
Partial rejection reflects the IMF’s broader skepticism about national-level crypto adoption. Similar warnings have been issued to other countries, including El Salvador, with the IMF warning against direct government involvement in the mining and accumulation of Bitcoin.
In particular, global financial regulators have also questioned Pakistan’s energy programmes, particularly those related to emerging sectors such as Bitcoin mining and AI infrastructure.
The government’s plans include reusing three underutilized coal plants to power crypto mining operations and data centres.
Pakistan deepens its Bitcoin strategy
Despite the IMF reservations, Pakistan appears to be doubling with a crypto push.
Authorities have demonstrated a broader commitment to digital assets, framing Bitcoin as a sovereign-level financial tool that will help strengthen financial decentralization and innovation in the Global South.
As part of this strategy, Pakistan is building a well-known advisory group for its newly established Crypto Council. The team includes Michael Saylor of MicroStrategy, Changpeng “CZ” Zhao, founder of Binance, and World Liberty Financial Advisor Bin Saqib. These appointments reflect Pakistan’s ambition to shape global crypto discourse and policies.
At the related development, World Liberty Financial, the Defi project, which has ties to US President Donald Trump and his family, signed a memorandum with Pakistan Crypto Council (PCC) in late June.