Pakistan is pushing for a crypto-friendly policy, with plans to invite crypto mining businesses and blockchain data centres to the coast. At the first meeting of the newly formed Pakistan Crypto Council (PCC) on Friday, members discussed the debate on channelling the country’s surplus energy to mine Bitcoin and other proof of work coins.
PCC CEO Bilal Bin Saqib has presented a surplus energy proposal that includes exploiting Pakistan’s excess energy to harness Bitcoin mining operations. This strategy could turn a country’s energy liability into economic assets by generating revenue from otherwise wasted energy.
The meeting was Finance Minister Mohammed Aurangzeb, who highlighted the strategic importance of this initiative for digital transformation in Pakistan. He emphasized the government’s commitment to creating a transparent, future-ready financial ecosystem that attracts investment and empowers young people.” This is the beginning of a new digital chapter for our economy.
Embracing Pakistan’s digital economy
The PCC was established earlier this month and aims to develop a comprehensive regulatory framework for the sector, whilst integrating crypto and blockchain technology into Pakistan’s financial ecosystem.
Bitcoin mining requires a powerful computer to perform complex mathematical calculations, so it is a prominent energy-intensive process that makes the ideal use case for surplus electricity.
The plan is in line with Pakistan’s broader efforts to become a competitive player in the global digital economy. By providing attractive electricity bills without subsidies, the government aims to attract crypto miners around the world and establish a stable energy supply for the industry. This approach also helps reduce payments to electricity producers for unused energy and create new economic opportunities.
While other council members supported the initiative in principle, they fostered the importance of national blockchain policies, which first provides regulatory clarity, and emphasized the need to slowly deploy in a number of pilot programs.
The Post-Pakistan Post has stepped up its crypto-friendly efforts with plans for energy-efficient Bitcoin mining.
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