As part of its larger plan to establish Pakistan as a regional digital hub, Finance Minister Muhammad Aurangzeb declared that the government has set aside 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence (AI) data centers.
According to the minister, this move represents the first big step of Pakistan toward adopting the digital economy.
Aurangzeb said in a statement:
“This power distribution is about forming the nation’s digital future, not just about AI or cryptocurrency,”
In order to diversify the economy, create jobs, and draw in foreign investment, the government intends to use excess electricity to power cutting-edge computing facilities for Bitcoin mining and AI data centers.
Hinting at the economic potential of the initiative, the minister also added:
“Excess electricity will now become a source of national income,”
The declaration comes as interest from foreign investors and digital infrastructure firms is increasing. The CEO of the Pakistan Crypto Council, Bilal Bin Saqib, claims that international companies are already expressing interest in Pakistan’s developing digital economy.
Saqib gave a statement in which he said:
“Pakistan is well-positioned to become a global hub for crypto and AI, especially with nearly 40 million local users already engaged in digital assets.”
He continued by saying that Pakistan is capable of taking the lead in South Asia and guiding the region’s cryptocurrency development.
The foundation for incorporating digital assets into the national economy is apparently being built in large part by the private-sector initiative known as the Pakistan Crypto Council.
The government is expected to implement tax exemptions and other incentives to support the growth of blockchain and artificial intelligence infrastructure, according to sources close to the Ministry of Finance.
These could include income tax holidays for businesses investing in the construction of data centers and customs assistance for the import of equipment.
In keeping with worldwide trends in green computing, the government has announced plans to build data centers that will be fueled by renewable energy sources in the upcoming phase of development.
According to the government, throughout Pakistan, the internet coverage will greatly better from the arrival of the Africa-2 submarine cable. This highlights another important achievement in the digital infrastructure of the nation.
In order to support data-intensive AI and blockchain activities, the undersea cable that connects Africa, the Middle East, and South Asia is anticipated to increase internet speed and dependability.
In order to highlight the initiative’s employment benefits, Aurangzeb said that the construction of data centers and blockchain mining businesses will provide thousands of new jobs. Software development, cybersecurity, data analytics, and engineering as well as construction are included in the list of the professions.
Loading ...
 data centers.){kind=link}