The government plans to use surplus electricity for encryption mining – Pakistan

Islamabad: Pakistan is working on a special electricity tariff to attract encryption mining and data -based data centers, aimed at using surplus power at marginal costs while enhancing growth in the digital asset industry.

I told the sources dawn The energy department was referring to various stakeholders to develop an attractive electricity tariff for emerging industries and sectors without involving any support that could help absorb the surplus of energy and reduce capacity payments in one way or another.

Some estimates indicate that Bitcoin miners are currently spending up to 60-70 percent of their total profits at electricity costs. This puts Pakistan in an attractive position with excess electricity, but will require more focus on its stable supplies.

Globally, bitcoin mining is a thick energy process. It is estimated that it consumes more than 130 hours of Terawatt (TwH) of electricity annually-more than full energy consumption for countries such as Argentina or the Netherlands.

Department of Authority in the Energy Department to develop an attractive energy tariff for emerging industries

Because of this high demand, many countries have introduced a specific tariff of electricity to extract or take it. For example, as soon as the Bitcoin Mining Center banned, China banned the industry in 2021, noting environmental concerns and energy deficiency.

Iran provides mining -backed electricity, but it is repeatedly closing operations during peak consumption periods. In October and November of last year, the provinces of Tehran and remote provinces faced the power outages for weeks, with some suspects in mining the currency coded in interruptions, according to what he said. Associated Press.

Kazakhstan initially embraced the coding mining, but later imposed a tariff and taxes higher than electricity due to high power deficiency.

El Salvador, the first country to build bitcoin as a legal tendency, provides low -cost earth energy from volcanoes for mining.

Pakistan encryption council

According to the sources, the Minister of Authority, Owais Legari, and the CEO of the newly formed Pakistan Checklind Council (PCC) Bilal bin Sakib In a recent meeting, it discussed possible opportunities as global miners had expectations to benefit from the extra electricity in Pakistan.

This was followed by the opening council meeting on Friday, chaired by Finance Minister Mohamed Orangezib.

During the meeting, Mr. Sakb presented “the concept of benefiting from the surplus electricity in Pakistan to extract bitcoin, and may turn the country’s obligations into assets,” an official statement said.

The meeting was also attended by the governor of the State Bank, Jamil Ahmed, Chairman of the Securities and Stock Exchange Committee in Pakistan, Akif Saeed, and Federal Trustees of Information Technology and Law ministries.

The meeting focused on Pakistan’s unexploited capabilities in the encryption space, with Mr. Sakb presented a comprehensive and important vision for the council.

Its width highlighted the current status of the landscape of encryption in Pakistan, where the challenges and barriers were shed light that prevents the accreditation of cryptocurrencies on a large scale.

An official statement said that one of the main areas of discussion was the need for organizational clarity to cancel the full capabilities of the sector.

He also stressed the importance of organizational models and cases of use, especially in the region, which can be designed with the unique context of Pakistan.

The Minister of Finance emphasized the decisive role of PCC in forming the future of Pakistan in the area of ​​digital assets, and hopes that the council will serve as an umbrella platform, and to unify all the stakeholders and organizational bodies related to working cooperatively towards a comprehensive, responsible and aspiration organizational framework.

“This is the beginning of a new digital separation for our economy. We are committed to building a transparent and ready environmental system in the future that attracts investment, enables our youth, and places Pakistan on the global map as a leader in emerging technologies,” and quoted to say.

The meeting agreed to learn from international best practices and ensure that its business models and revenues are rooted in local facts.

In this regard, it was also decided to build on the current work of various entities and groups, and benefit from their knowledge and experience.

The Council agreed to the need for a well -defined organizational framework, legislation and licensing systems for consumer protection, Blockchain Mining and National Blockchain policy.

The statement said that the importance of the sequence of operation, the operation of experimental programs, and the guarantee of commitment to international obligations.

Posted at dawn, March 22, 2025