The International Monetary Fund (IMF) has rejected Pakistan’s proposal to offer subsidized electricity rates to crypto mining operations, data centers, and heavy industries, citing opposition to targeted subsidies, even during periods of surplus electricity in winter.

This information was shared by Secretary Power, Dr. Fakhray Alam Irfan, during a session with the Senate Standing Committee on Power. Although the IMF turned down the plan, it is now under review by the World Bank and other lenders and has not yet been officially withdrawn.

During the session, lawmakers criticized the recent Rs. 1.275 trillion circular debt settlement with banks, with one senator alleging coercion in the agreement. The Power Secretary denied any forced settlement and clarified that no new levies have been introduced as part of the agreement.

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Highlighting progress in consumer engagement, the Secretary said that over 500,000 users have downloaded the Apna Meter Apni Reading app to help reduce overbilling. He confirmed that the app will soon be extended to K-Electric (KE) consumers as well.

However, senators expressed strong concerns over persistent load shedding, even in areas where consumers are regularly paying their electricity bills. One lawmaker alleged that some local officials demand bribes to restore disconnected services. The Power Secretary responded by stating that revenue-based load shedding is applied in areas where line losses exceed 20 percent.

He further noted that 58 percent of consumers are currently receiving electricity at a subsidized rate of Rs. 10/unit. With the approval of donor agencies, the government plans to allocate Rs. 250 billion in subsidies this year and implement advanced anti-theft technology to improve billing and collection.