PM Shehbaz Emphasizes Digitization for Transparent, Cashless Economy

Islamabad — Prime Minister Shehbaz Sharif has reaffirmed the government’s commitment to boosting economic transparency by accelerating the shift toward a digital and cashless economy.

Chairing a high-level meeting on Monday, the Prime Minister underscored the importance of simplifying digital payment systems, especially for small and medium-sized enterprises (SMEs). He stressed that digitization of government-citizen financial transactions would not only enhance transparency but also improve overall user convenience.

PM Shehbaz directed authorities to expedite the appointment process for the Board of Governors and Chairman of Raast, the country’s national digital payment platform, with a deadline set for September. He emphasized that the board should include professionals from economic and business sectors to ensure effective oversight and strategic guidance.

He also called for all State-Owned Enterprises (SOEs) to be integrated into the digital payment framework, aiming to modernize financial operations across public institutions.

During the briefing, officials shared encouraging progress in digital transformation. The number of mobile app users engaging in digital banking is projected to grow from 95 million to 120 million, while digital transactions are expected to double—from Rs 7.5 billion to Rs 15 billion.

In support of these goals, the government will launch a nationwide awareness campaign next month to promote Raast and digital payment solutions. Additionally, import duties on digital payment devices have been eliminated to encourage broader adoption.

Officials also announced the upcoming launch of the Digital Payments Index, a tool designed to benchmark the country’s progress in financial digitization against global standards.