Prime Minister Shahbaz Sharif has emphasized the critical role of cashless economy initiatives in promoting sustainable economic growth, during a high-level review meeting held at the Prime Minister’s Office on Monday.
Addressing the gathering, Shahbaz Sharif said Pakistan must align with the global shift towards digital economies.
“From day one, building a digital nation has been a priority, and the positive outcomes of these efforts are now visible,” he said, highlighting steps taken to modernize financial transactions and governance.
The Prime Minister noted that during Ramadan, for the first time in Pakistan’s history, Benazir Income Support Program (BISP) payments were disbursed through digital wallets, marking a significant step toward financial inclusion. He stressed that a cashless economy would enhance governance and significantly reduce corruption.
The review meeting included Federal Ministers Omer Sheikh, Attaullah Tarar, Shiza Fatima Khawaja, Minister of State Bilal Azhar Kiani, State Bank Governor Jameel Ahmed, NADRA Chairman Lt. Gen. Muhammad Munir, and FBR Chairman Rashid Mahmood Langrial, among other senior officials.
Officials briefed the Prime Minister on key initiatives, including the integration of QR code payments for electricity and gas bills, which has enabled billions of rupees in transactions through digital channels. Updates were also shared on the BISP, with one crore digital wallets expected to be fully operational by the end of the month for future disbursements.
Other steps highlighted included the linkage of mobile government service apps with Raast digital payment system, mandatory digital payment compliance for new business licenses in Islamabad, and provision of QR code-based payment facilities for existing shops. Additionally, licenses for digital banks are being issued to expand financial services nationwide.
Officials reported that 68% of Pakistan’s population is now financially included, with targets to increase this further in the coming year. The Prime Minister instructed all relevant ministries and agencies to ensure timely achievement of the cashless economy goals.
Shahbaz Sharif lauded the Ministry of Finance, Ministry of IT, FBR, State Bank, and all involved institutions for their performance and reaffirmed the government’s commitment to making Pakistan a fully digital economy.
