KARACHI: A proposal to leverage surplus electricity for bitcoin mining was floated at the inaugural meeting of the Pakistan Crypto Council (PCC) on Friday, according to a statement by the Finance Division, as members of the newly established body vowed to open a new digital economy chapter in the country’s history.
The PCC was officially launched on March 15 to explore the integration of crypto and blockchain technologies into Pakistan’s financial ecosystem and draft a regulatory framework for the sector. Its formation marked a significant shift for the country that was once reluctant to embrace cryptocurrencies due to regulatory and security concerns.
The council’s first meeting was presided over by Finance Minister Muhammad Aurangzeb and attended by senior officials, including the governor of the State Bank, the chairman of the Securities and Exchange Commission of Pakistan and the federal IT and law secretaries.
“The meeting focused on Pakistan’s untapped potential in the crypto space, with [PCC] CEO Bilal Bin Saqib presenting a comprehensive vision and mission for the Council,” the statement said.
“Saqib emphasized the importance of regulatory models and use cases, particularly in the region, that could be tailored to Pakistan’s unique context,” it added. “He also presented the concept of leveraging Pakistan’s surplus electricity for Bitcoin mining, potentially turning the country’s liabilities into assets.”
Bitcoin mining is the process by which new bitcoins are created and transactions verified through complex mathematical computations that require powerful, energy-intensive computers.
Pakistan’s surplus electricity, which often goes unused due to low demand or inadequate infrastructure, could be redirected to power these mining operations, according to the proposal, and generate revenue from otherwise wasted energy.
Finance Minister Aurangzeb praised the council’s vision and underlined its strategic importance for Pakistan’s digital transformation.
“This is the beginning of a new digital chapter for our economy,” he said. “We are committed to building a transparent, future-ready financial ecosystem that attracts investment, empowers our youth and puts Pakistan on the global map as a leader in emerging technologies.”
Aurangzeb noted that while Pakistan should learn from global best practices, it must develop business and revenue models grounded in local realities.
He called for building on previous work by various stakeholders to ensure the country doesn’t start from scratch.
Other council members highlighted the need for regulatory clarity, consumer protection, licensing regimes and a national blockchain policy. They also stressed the importance of sequencing the rollout, running pilot programs and ensuring compliance with international obligations.
Pakistan floats bitcoin mining proposal using surplus electricity at first crypto council meeting
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Pakistan floats bitcoin mining proposal using surplus electricity at first crypto council meeting
- The council was officially launched this month to integrate crypto technologies into Pakistan’s financial system
- The country’s finance chief emphasizes the need for a future-ready financial ecosystem that attracts investment
Pakistan remittances seen surpassing $40 billion in FY26 as Saudi Arabia leads November inflows
- The country’s November remittances rose 9.4 percent year-on-year to $3.2 billion, official data show
- Economic experts say rupee stability and higher use of formal channels are driving the upward trend
ISLAMABAD: Pakistan’s workers’ remittances are expected to exceed the $40 billion mark in the current fiscal year, economic experts said Tuesday, after the country recorded an inflow of $3.2 billion in November, with Saudi Arabia once again emerging as the biggest contributor.
Remittances are a key pillar of Pakistan’s external finances, providing hard currency that supports household consumption, helps narrow the current-account gap and bolsters foreign-exchange reserves. The steady pipeline from Gulf economies, led by Saudi Arabia and the United Arab Emirates, has remained crucial for Pakistan’s balance of payments.
A government statement said monthly remittances in November stood at $3.2 billion, reflecting a 9.4 percent year-on-year increase.
“The growth in remittances means the full-year figure is expected to cross the $40 billion target in fiscal year 2026,” Sana Tawfik, head of research at Arif Habib Limited, told Arab News over the phone.
“There are a couple of factors behind the rise in remittances,” she said. “One of them is the stability of the rupee. In addition, the country is receiving more inflows through formal channels.”
Tawfik said the trend was positive for the current account and expected inflows to remain strong in the second half of the fiscal year, noting that both Muslim festivals of Eid fall in that period, when overseas Pakistanis traditionally send additional money home for family expenses and celebrations.
The official statement said cumulative remittances reached $16.1 billion during July–November, up 9.3 percent from $14.8 billion in the same period last year.
It added that November inflows were mainly sourced from Saudi Arabia ($753 million), the United Arab Emirates ($675 million), the United Kingdom ($481.1 million) and the United States ($277.1 million).
“UAE remittances have regained momentum in recent months, with their share at 21 percent in November 2025 from a low of 18 percent in FY24,” said Muhammad Waqas Ghani, head of research at JS Global Capital Limited. “Dubai in particular has seen a steady pick-up, reflecting improved inflows from Pakistani expatriates owing to some relaxation in emigration policies.”
