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
China backs Pakistan in fight against militancy after deadly Balochistan attacks
- China is a major ally and investor in Pakistan and has pledged over $65 billion in major infrastructure projects, including in Balochistan
- Chinese Foreign Ministry spokesperson Lin Jian says ‘we mourn for lives lost, and our hearts go out to injured and those who lost loved ones’
ISLAMABAD: China condemns the recent attacks that killed more than 200 people in Pakistan’s southwestern Balochistan province, a Chinese foreign ministry spokesperson said on Tuesday, reaffirming Beijing’s support for Pakistan in its fight against militancy.
The Baloch Liberation Army (BLA) group launched coordinated attacks in several cities across Balochistan on Saturday, killing 33 civilians and 17 security personnel. Officials said 117 militants were killed in skirmishes and follow-up operations.
Balochistan, which borders Iran and Afghanistan, is the site of a decades-long insurgency waged by Baloch separatist groups who often attack security forces, foreigners and non-local Pakistanis and kidnap government officials.
China is a major ally and investor in Pakistan and has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC).
“China strongly condemns the [Balochistan] attacks... We mourn for the lives lost, and our hearts go out to the injured and those who lost their loved ones,” Chinese Foreign Ministry spokesperson Lin Jian said at a press briefing on Tuesday.
“China firmly opposes any form of terrorism and will as always firmly support Pakistan in combating terrorism, maintaining solidarity and social stability, and protecting the safety of the people.”
Chinese nationals working in Pakistan have often been targeted by militants, particularly in the southwestern Balochistan province, where China is developing a deep seaport that is touted as the crown jewel of CPEC.
Interior Minister Mohsin Naqvi said last week the attacks, claimed by the separatist Baloch Liberation Army (BLA), were planned from India. New Delhi rejected the allegation as “baseless,” saying Islamabad was attempting to deflect attention from its internal challenges.
Balochistan is home to vast reserves of minerals and hydrocarbons. Separatist militant groups such as the BLA blame Islamabad for exploiting Balochistan’s natural resources and denying locals a share in them. The military and civilian government reject these allegations and say they are investing in the province’s development.
