PM forms body to promote cashless economy, digitization
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday formed a high-level committee to accelerate the country's transition towards a cashless economy and advance digital financial infrastructure.
Chairing a review meeting on promotion of a cashless economy, Sharif said digitisation was among the government's top reform priorities, aimed at eliminating the informal economy and increasing transparency through digital payments and fund transfers.
'To promote a cashless economy, we are taking policy steps to encourage digital payments and money transfers,' he said. 'The federal budget includes proposals aimed at supporting this shift.'
Pakistan govt's budget steps may hinder cashless economy drive: TOAP
Officials from the Ministry of Finance and the Ministry of Information Technology briefed participants on the progress of digital transformation, including directives issued to traders to adopt digital payments and efforts to promote digital finance at the public level. To drive faster implementation, the prime minister announced the formation of a high-level committee that he will chair personally. The body will meet weekly to monitor developments in digitalisation and financial transparency.
Sharif also pointed to the successful use of digital wallets for disbursing financial aid during the holy month of Ramadan. 'Beneficiaries received their entitled aid in a transparent manner without any human interference,' he said. Citing improvements in the country's economic indicators, the prime minister noted that inflation had declined and remittances had increased. He added that a bullish trend in the stock market reflected investor confidence in the government's economic direction.
'By the grace of Allah, the efforts of our economic team are bearing fruit,' he said.
The meeting was attended by Finance Minister Muhammad Aurangzeb, Planning Minister Ahad Khan Cheema, Minister for Information Technology Shaza Fatima Khawaja, Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial, and other senior officials.
Copyright Business Recorder, 2025
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