In a big push to make everyday payments smoother and reduce reliance on cash, Prime Minister Shehbaz Sharif has approved the creation of three special committees to speed up Pakistan’s journey toward a cashless economy.
The new committees — focusing on digital infrastructure, payment innovation and adoption, and government payments — will work on making it easier for people and businesses to pay and get paid digitally. They’ll also spread awareness about digital tools, help roll out the Pakistan Digital Authority, and draft a national plan for the digital future.
During a recent high-level meeting, PM Shehbaz stressed how vital it is to make digital transactions cheaper and more user-friendly than using cash. He said modern economies around the world are moving in this direction — and so should Pakistan.
One of his key directives was to roll out the Raast digital payment system not just federally but also in all provinces. He noted that shifting to digital transactions will boost transparency and help fight corruption.
Officials informed the prime minister that money moving through banks can even be used to fund development work — another plus for going cashless. He urged all government departments to switch to cashless transactions for dealing with the private sector.
So far, more than 40 million people are already using Raast, but there’s a clear plan to grow that number fast. The government also aims to make Islamabad the country’s first cashless city through the Smart Islamabad Pilot Project.
The Digital Public Infrastructure Committee will work under the IT Ministry, while a special Cashless Pakistan Steering Committee has been set up at the PM’s Secretariat to oversee progress.
The meeting was attended by key ministers including Economic Affairs Minister Ahsan Iqbal, Petroleum Minister Ali Pervaiz Malik, IT Minister Shaza Fatima, Climate Change Minister Dr Musadik Malik, along with the State Bank Governor Jameel Ahmad and FBR Chairman Rashid Mahmood Langrial.