ISLAMABAD: Prime Minister Shehbaz Sharif on Monday called for a swift overhaul of the country’s economic infrastructure, urging the digitisation of public payment systems, streamlined processes for small and medium-sized enterprises (SMEs), and the integration of state-owned enterprises (SOEs) into a unified digital framework.
During a weekly review meeting, senior officials informed the prime minister that consultations are currently under way with federal ministries, regulatory bodies, provincial departments, and district administrations to fully digitise both tax and non-tax payments between the government and the public.
In the first phase of the initiative, they said that the authorities have completed data mapping for all financial transactions between federal government entities and transfers to provincial governments. Officials stated that the goal is to make these payments fully digital.
Aurangzeb seeks roadmap for transition to a digital economy
PM Sharif emphasised that digitising the economy is a top priority for his administration, stressing that digital payment systems will enhance transparency and ease for citizens. “The transition to a cashless economy will bring transparency and convenience. It is essential for modernising the country’s financial ecosystem,” Sharif said.
A statement issued by the Prime Minister’s Office noted that the briefing was told initial efforts will focus on transitioning salaries, pensions, and procurement payments for government employees to digital platforms. The government also aims to streamline payments to contractors through electronic means, it added.
PM Sharif directed that the transition be made more accessible for small and medium-sized enterprises (SMEs), which are critical to the country’s economic growth. He instructed that all state-owned enterprises (SOEs) be brought under the digital payment framework.
To strengthen governance of the Raast system – the country’s first government-backed instant digital payment system – the Prime Minister ordered the appointment of its chairman and board of governors by September. He also called for the inclusion of economic and business experts on its board of directors to ensure strategic oversight.
A progress update revealed that the job advertisement for Raast’s chief executive officer (CEO) has already been issued. Officials said that digital banking users are expected to grow from 95 million to 120 million, and digital payments are projected to double from Rs7.5 billion to Rs15 billion.
The briefing noted that a nationwide awareness campaign to promote Raast and digital payments will be launched next month.
Additionally, import duties on digital payment devices have been abolished, and a Digital Payments Index is set to launch within the next month to benchmark Pakistan’s progress against global standards.
The briefing also highlighted key infrastructure developments, including the Capital Development Authority (CDA) approving the Right of Way for digital public infrastructure in Islamabad. Furthermore, the Islamabad City mobile app has been successfully integrated with the Raast system.
Officials said all foreign remittances are being brought into the banking system as part of the remittance digitisation drive. Coordination is also ongoing with provincial governments, Gilgit-Baltistan, and Azad Jammu and Kashmir to expand the digital payment network.
Public Wi-Fi services and e-libraries are scheduled to become operational in designated areas of Islamabad by December 2025. A third-party validation of the digital public infrastructure is currently under way on the Prime Minister’s instructions.
The State Bank of Pakistan (SBP) has directed federal and provincial authorities to adopt QR codes as a primary payment method. In line with this, the number of commercial points using QR codes and other digital methods is being expanded from 500,000 to 2 million nationwide.
The meeting was attended by several key officials, including Federal Minister for Planning and Development Ahsan Iqbal, Minister for Law and Justice Azam Nazeer Tarar, Minister for IT and Telecom Shaza Fatima, Minister for Petroleum Ali Pervaiz Malik, Adviser to the Prime Minister Dr Tauqir Shah, Minister of State for Finance Bilal Kayani, and other senior government officials.
Copyright Business Recorder, 2025
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