Prime Minister Shehbaz Sharif has directed authorities to accelerate Pakistan’s transition to a cashless economy, instructing banks and financial institutions to play a leading role in expanding digital payments and ensuring all foreign remittances are processed digitally.
Chairing a high-level meeting on promoting digital payments, the prime minister said a cashless economy is essential for sustainable growth, financial transparency and a modern financial system.
Prime Minister Shehbaz reviewed progress on the government's efforts to promote a cashless economy and expand the use of digital payment systems across the country.
During the meeting, he stressed that banks and financial institutions must actively contribute to speeding up the transition by encouraging wider adoption of digital financial services.
The prime minister said greater use of digital payments would help strengthen economic growth while improving transparency across the financial system.
Foreign remittances to become fully digital
To simplify and modernise international financial transactions, PM Shehbaz directed the relevant authorities to transition foreign remittances to a 100% digital format.
The move is aimed at making overseas money transfers more efficient, secure and transparent while supporting the government's broader digitalisation agenda.
The prime minister commended the government's economic team for the progress achieved in moving Pakistan toward a cashless economy.
He highlighted significant growth in digital payment adoption over the past year, noting that the number of active merchants using QR codes has increased by 300%.
PM Shehbaz also pointed out that the number of mobile banking application users has risen from 95 million to 137 million, reflecting growing public acceptance of digital financial services.
Public awareness campaigns
Emphasising the importance of public participation, the prime minister said transitioning to a cashless system is vital for building a transparent and documented economy.
He directed the relevant authorities to launch more effective awareness campaigns to educate people about the convenience, security and benefits of digital payment methods.
According to the prime minister, greater public awareness will help accelerate the country's shift toward a modern, technology-driven financial ecosystem.
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