Prime Minister Muhammad Shehbaz Sharif has announced the establishment of three specialized committees aimed at advancing Pakistan’s transition to a cashless economy. During a high-level meeting focused on digital payments, the Prime Minister revealed the formation of the Digital Payments Innovation and Adoption Committee, the Digital Public Infrastructure Committee, and the Government Payments Committee.
These committees will be responsible for recommending strategies to facilitate smoother digital transactions between citizens and businesses, enhancing awareness of digital financial systems, operationalizing the Pakistan Digital Authority, and developing a National Digital Master Plan. The overarching goal is to simplify financial interactions between the government, businesses, and citizens through innovative technology.
Emphasizing the need for affordability and accessibility, the Prime Minister stated that digital transactions should be cheaper and more convenient than cash payments to encourage widespread adoption. He highlighted the importance of expanding the RAAST payment system beyond the federal level to all provinces, calling it essential for improving transparency and economic efficiency.
“Cashless economies are the backbone of developed and thriving nations,” the Prime Minister remarked, stressing that digital transformation must incorporate advanced technologies to enhance financial services.
Officials briefed the Prime Minister on current initiatives, noting that over 40 million users are already benefiting from the RAAST system, with plans to increase this number. All federal government financial transactions are now conducted through RAAST, which is gradually being implemented across provinces.
The briefing also underscored the critical role of fintech in supporting the broader economic ecosystem and confirmed the establishment of the Pakistan Digital Authority, which is actively driving the cashless economy agenda.
The Digital Public Infrastructure Committee will operate under the Ministry of Information Technology, which has also set up a steering committee on “Cashless Pakistan.” As part of this initiative, the IT Ministry is working on the Smart Islamabad pilot project, aiming to make Islamabad the first cashless city in the country.
The meeting was attended by key figures, including Federal Ministers Ahsan Iqbal, Ali Pervaiz Malik, Shaza Fatima Khawaja, Dr. Musadik Malik, the State Bank Governor, FBR Chairman, and senior officials from relevant departments.
