<ul data-eligibleForWebStory="false"><li>The IMF rejected Pakistan's proposal for subsidised electricity rates for crypto mining due to concerns of market distortions and fiscal instability.</li><li>Circular debt exceeding US$4.5 billion made further energy subsidies unacceptable to the Fund.</li><li>Pakistan's ageing grid infrastructure with high transmission losses and frequent outages hinders mining viability.</li><li>Despite Pakistan's efforts to stimulate crypto mining, the IMF's refusal indicates global financiers' wariness of sector-specific subsidies.</li></ul>

IMF Says ‘No Thanks’ to Pakistan’s Plan for Rock-Bottom Power Rates for Crypto Miners

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