Digital payments: Utility bills to have QR codes
This decision was taken at a recent meeting presided over by the Prime Minister, Shehbaz Sharif, which was attended by all the concerned ministries/ organisations. Prime Minister, will launch Digital Payment Index Pakistan next month for which Governor SBP and CEO Karandaaz are to make arrangements.
According to sources, a team led by Secretary Petroleum and Natural Resources and comprising, Secretary Power, Secretary M/o IT&T and Chairman Capital Development Authority (CDA) will formulate the mechanism within a month.
Digital payments: Pakistan PM forms three high-powered panels
Secretary Petroleum and Chairman Oil and Gas Regulatory Authority (OGRA) will devise a mechanism in one month for mandatory acceptance of payments through QR codes, Point of Sale (PoS) terminals, soft PoS to be made available in all petrol stations across the country ( including AJ&K, GB regions) and Motorways as this will be mandatory condition of their licences, the sources added.
Chairman CDA, in consultation with the Law and Justice Division is tasked to review legal framework for mandating acceptance of QR codes, PoS terminals, soft PoS, or other approved digital payment instruments and to mandate acceptance accordingly.
For the State Bank of Pakistan (SBP), the following revised target, as proposed by the Sub-Committee on digital payments innovation and adoption, were approved: (i) active digital commerce payment points include QR codes- 2 million from existing 0.5 million ;(ii) active merchant- 1 transaction per month ;(iii) the number of mobile/ internet app and digital banking users to be increased to 120 million from 95 million during FY 26;(iv) the number of digital transactions will be enhanced by 100 per cent to 15 billion from existing 7.5 billion ; and (v) remittances to be credited in bank accounts/ wallets ( no cash payments)-100 per cent digital from existing 80 per cent.
Secretary Finance and Governor State Bank of Pakistan have been directed to revise annual subsidy allocation ceiling for supporting cashless transactions to Rs 3.5 billion ( 0.5 per cent incentive to banks for encouraging merchants on boarding on Raast). Banks may charge MDR of up to 0.25 per cent from merchants. Any amount in excess of this ceiling to be borne by the service providers.
The Government Payment Sub-Committee, in consultation with provincial governments and relevant stakeholders, shall review the proposed timelines for implementation of its proposed recommendations. For submission of plans on State Owned Entities (SOEs) and P2G targets, revised timelines, reduced by at least one fourth will be shared during the next meeting of the Committee.
Governor SBP has been directed to ensure that private sector members on the Board of Raast Payment Pakistan shall be renowned experts with a proven professional track record in the field of digital payments.
Governor SBP has also been directed to finalise appointment of Chief Executive Officer (CEO) Raast Payment Pakistan by end of September 2025.
Secretary Information Technology and Telecom has been asked to make all necessary arrangements for the inauguration of the Islamabad IT Park by the third week of August 2025 without exception.
The meeting also decided that Right of Way (RoW) charges will be eliminated beginning with CDA, NHA and Pakistan Railways.
Capital Development Authority while granting NOC/ approval to new housing societies shall prescribe a condition that these societies will not impose any Right of Way for development/installation of IT and IT related infrastructure /fiberization.
Law and Justice Division to review legal instruments for implementation of this decision. This shall serve as a model for provincial governments to adopt for which consensus will be developed.
Copyright Business Recorder, 2025
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