Cashless economy to drive sustainable growth, transparency, says PM
- Cashless economy drive sees mobile banking users jump from 95M to 137M, boosting transparency and efficiency for millions
Prime Minister Shehbaz Sharif emphasized transitioning Pakistan to a cashless economy for sustainable growth and transparency, highlighting significant progress in digital payments and mobile banking adoption.
- Progress in digital payment adoption and mobile banking users.
- Digitalization of Benazir Income Support Programme payments.
- Directives for promoting QR code payments and digital remittances.
Prime Minister Shehbaz Sharif said on Tuesday that transitioning the national economy to a cashless system will lead to sustainable economic growth and promote transparency.
Chairing a meeting in Islamabad today, the PM commended the economic team’s performance regarding the progress made over the past year in transforming Pakistan’s economy into a cashless one based on digital payments.
He directed authorities to further strengthen awareness campaigns to encourage merchants to adopt QR code-based digital payments.
“An increase in the number of mobile banking app users from 95 million to 137 million within one year is a major achievement,” the PM said.
He directed that all overseas remittances be processed through digital channels.
He appreciated the transition of Benazir Income Support Programme (BISP) payments to a digital system, describing it as being transparent, efficient and more convenient for beneficiaries.
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The meeting was informed that the number of merchants receiving digital payments increased by 300% in the past year.
“Payments to ten million Benazir Income Support Programme (BISP) beneficiaries are now being made through digital wallets.
92% of remittances received over the past year were transferred through digital channels,” the meeting was informed.
The meeting was informed that a third-party validation of the cashless economy initiative is underway, and the final report, along with recommendations, will be submitted in November this year.
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