Islamabad: Prime Minister Shehbaz Sharif on Monday emphasised the importance of accelerating Pakistan’s transition to a cashless economy, highlighting its potential role in promoting sustainable development and improving governance.
Chairing a meeting to review the progress of ongoing initiatives, the prime minister directed relevant authorities to intensify awareness campaigns in rural areas to reduce reliance on cash-based transactions and promote a fully digital financial system.
“The entire world is moving towards a digital economy, and Pakistan must move forward alongside it,” he said, noting that his government has prioritised measures to promote digitalisation, which are now showing positive results.
During the meeting, the prime minister was informed that for the first time, financial assistance under the Benazir Income Support Programme (BISP) was transferred to eligible families during Ramazan through digital wallets. He noted that all 10 million digital wallets under BISP are expected to be activated by the end of the current month, with subsequent disbursements planned through these wallets.
Officials also briefed the prime minister on the use of RAAST QR codes for payments of electricity and gas bills, enabling billions of rupees in digital transactions. Plans are underway to link mobile apps for government services in Islamabad and business licensing processes to the RAAST system, including QR code payment facilities at shops. Additionally, licences for establishing digital banks across the country are being issued to further promote financial inclusion.
Shehbaz Sharif commended the Ministry of Finance, Ministry of IT, Federal Board of Revenue (FBR), State Bank of Pakistan (SBP), and other institutions for their progress in implementing the cashless economy roadmap. He instructed that the scope of financial inclusion be further expanded, noting that over 68 percent of the population has already been brought into the formal digital financial system.
The meeting was attended by federal ministers, SBP Governor Jameel Ahmed, NADRA Chairman Lt Gen Muhammad Munir, FBR Chairman Rashid Langrial, and other senior officials.
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