Islamabad: Prime Minister Shehbaz Sharif has called on banks and financial institutions to play a greater role in advancing Pakistan’s transition to a cashless economy by expanding the use of digital payment systems.
Chairing a review meeting in Islamabad, the prime minister praised the progress made over the past year in promoting digital payments and directed authorities to strengthen awareness campaigns encouraging merchants to adopt QR code-based payment solutions.
He also instructed that all overseas remittances be processed through digital channels and commended the transition of payments under the Benazir Income Support Programme (BISP) to digital wallets, describing the system as more transparent, efficient and convenient for beneficiaries.
During the meeting, officials informed the prime minister that the number of mobile banking app users had increased from 95 million to 137 million over the past year, while the number of merchants accepting digital payments had risen by 300%.
They added that payments to 10 million BISP beneficiaries are now being made through digital wallets, and that 92% of overseas remittances received during the past year were transferred through digital channels.
Officials also said a third-party assessment of the government’s cashless economy initiative is underway, with a final report and recommendations expected in November.
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