Pakistan is set to shift its energy policy to capitalize on surplus electricity for enhancing digital infrastructure projects. This initiative aims to leverage the available energy resources to foster the advancement of specific digital technologies across the nation.
How Will This Energy Policy Affect Digital Growth?
Local reports indicate that persistent challenges in Pakistan’s energy sector, such as elevated electricity costs and a surplus capacity on the rise, have laid the foundation for this new policy. The strategic use of excess electricity seeks to create enhanced economic opportunities and improve returns on energy investments.
Who Is Leading the Charge for Change?
Bilal Bin Saqib, President of the Pakistan Crypto Council and advisor to the Finance Minister, expressed optimism about the situation. He noted that discussions have already begun with various firms specializing in digital infrastructure.
Bilal Bin Saqib: “We appreciate companies considering visits to Pakistan for assessments of digital infrastructure. We believe the timing is ideal.”
The recent appointment of Changpeng Zhao, an expert in the crypto sector, as a strategic advisor to the government underscores the region’s growing commitment to digital advancement linked to cryptocurrency. This move is intended to speed up the adoption of innovative practices in the crypto space.
During a Bloomberg interview last March, Bilal Bin Saqib encouraged international firms to explore Pakistan’s digital infrastructure potential, pointing out that utilizing surplus electricity for activities like Bitcoin mining could significantly benefit the national economy.
Moreover, he addressed recent modifications in U.S. cryptocurrency regulations, interpreting these initiatives as part of Pakistan’s broader economic and technological shift.
- Utilizing surplus electricity can stimulate economic opportunities.
- The government aims to improve energy sector efficiency while attracting investments.
- International firms are encouraged to evaluate and invest in Pakistan’s digital infrastructure.
The anticipated policy changes are likely to tackle existing inefficiencies in the energy sector while simultaneously boosting investments in digital technologies.
