Prime Minister Shehbaz Sharif on Wednesday constituted a high-level committee under his chairmanship to promote a cashless and digitized economy.
The committee, which will meet on a weekly basis, is tasked with reviewing the progress of digitization initiatives across the country. Officials familiar with the development said that key measures to support a digital financial system have already been incorporated into the recently announced federal budget.
Speaking on the occasion, Prime Minister Shehbaz Sharif said that the digitization of the economy remains one of the government’s top priorities. “By encouraging digital payments and money transfers, we aim to restrict the informal economy and ensure greater transparency in financial transactions,” he stated.
Highlighting the government’s efforts during Ramadan, the premier noted that financial aid was disbursed to eligible individuals through digital wallets, enabling a transparent and efficient distribution mechanism.
“This approach ensured that assistance reached the rightful recipients directly, without intermediaries,” he added.
The Prime Minister further said that a robust digital financial ecosystem could pave the way for reduced inflation, higher remittances, and overall improvement in the country’s economic outlook. “The recent surge in the Pakistan Stock Exchange reflects growing investor confidence in the government’s economic policies,” he noted.
Mr Sharif also credited the ongoing economic recovery to the hard work of the economic team and the “grace of Allah,” reiterating the government’s commitment to sustainable growth through innovation and structural reforms.
