Pakistan has allocated 2000 megawatts of surplus electricity only to extract bitcoins and artificial intelligence centers.
This movement is part of a wider digital transformation plan, which is Pakistan Crypto Council and supported by the Ministry of Finance, in accordance with May 25 report through the local TV channel 24newshd.
In the first phase, the government plans to direct the power surplus to AI infrastructure and cryptographic mining operations. Minister of Finance Muhammad Aurangzeb said that the decision is to attract billions of foreign investment, while generating technologically advanced employment throughout the country.
The second phase of the initiative will introduce access to renewable energy to mining operations aimed at balancing growth with responsibility for the environment.
Related: World Liberty Financial Partners from Pakistan Crypto Council
Pakistan will present tax incentives to attract investors
According to the report, the interest of international Bitcoin (BTC) and AI companies has already increased. Officials have confirmed that in recent months many foreign delegations have visited Pakistan to examine potential partnerships.
To continue to encourage investments, the Ministry of Finance has announced a tax incentive package for AI centers and exemptions from obligations for Bitcoin miners.
Bilal bin Saqib, general director of Pakistan’s Crypto Council, apparently accepted development, calling it a “turning point” for the digital economy of the country.
Saqib claimed that thanks to the clear regulations and limpid frames, Pakistan could become a significant player in global cryptographic sectors and artificial intelligence.
Saqib for the first time proposed the apply of the country’s rafting energy to drive bitcoins at the inaugural meeting of the cryptographic council on March 21.
The meeting included legislators, the governor of the Pakistan Bank, chairman of Pakistan Securities and Stock Exchange Committee (SECP) and the Federal Secretary for Information Technology.
Related: Pakistan offers cryptocurrency regulatory frames based on compliance
Pakistan creates a digital resource organ
On May 21, the Ministry of Finance Pakistan supported the creation of a dedicated body in the regulation of financial infrastructure based on blockchain in this country.
Pakistan Digital Assets Authority (PDAA) will serve as an regulatory body to supervise licensing and regulation of exchange, carers, portfolios, tokenized platforms, Stablelecoin and decentralized financial applications.
PDAA will also be asked for tokenization of domestic assets and government debt, facilitating the monetization of Pakistan’s electricity surplus by regulated Bitcoin extraction and support startups in building huge -scale blockchain solutions.
Pakistan ranking High in the cryptocurrency adoption index from 2024, from ninth place, mainly due to sturdy retail adoption and transactions in centralized services.
Statista data can be seen Pakistan’s cryptographic market “experiences rapid growth”, estimating the number of cryptocurrency users to over 27 million to 2025, among the population of 247 million.
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