Prime Minister Shehbaz Sharif on Monday chaired a high-level meeting focused on transforming Pakistan into a cashless economy through the adoption of a comprehensive digital payment system.
During the meeting, the PM emphasized that establishing a robust digital transaction system is essential for promoting transparency, efficiency, and economic growth in the country.
He directed authorities to ensure that transactions between the public and private sectors become entirely cashless, while also instructing the implementation of digital payment systems at both the federal and provincial levels.
“Developed and successful economies across the world are rapidly transitioning to cashless systems. Pakistan must keep pace by leveraging modern technology to simplify and reduce the cost of digital transactions for the general public,” he said.
Shehbaz stressed that circulating financial resources within the formal banking system would increase liquidity and create more opportunities for investment in key government development projects.
The prime minister was briefed on the progress made toward implementing a digital transaction infrastructure across various sectors. In response, he announced the formation of three specialized sub-committees:
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Digital Payments Innovation and Adoption Committee
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Digital Public Infrastructure Committee
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Government Payments Committee
These committees will be tasked with facilitating seamless digital transactions between the public and businesses, increasing awareness about the benefits of digital finance, activating the Pakistan Digital Authority, developing a National Digital Master Plan, and streamlining payments between the government and private sectors.
PM Shehbaz reaffirmed the government’s commitment to making digital technology accessible, affordable, and secure to support financial inclusion and national economic goals.
