On the directions of Prime Minister Shehbaz Sharif, the federal government has formed three special committees to accelerate Pakistan’s shift towards a cashless economy. These include the Digital Infrastructure Committee, the Digital Payments Innovation and Adoption Committee, and the Government Payments Committee.
According to official sources, these sub-committees are tasked with simplifying payments between citizens and businesses, raising public awareness about digital systems, operationalising the Pakistan Digital Authority, developing a national digital master plan, and improving transactions between the public and private sectors.
Chairing a high-level meeting, Prime Minister Shehbaz Sharif highlighted the importance of promoting digital transactions, stating that this mode is more cost-effective than cash and must be made accessible to the public to foster a broader cashless system.
He directed that the Raast digital payment system be fully implemented at the federal level and across all provinces. He emphasised that a transparent economy requires robust digital transaction systems, noting that successful economies increasingly prefer cashless models.
The prime minister further instructed relevant departments to adopt modern technology to build a secure and efficient payment ecosystem. Officials briefed him that funds circulating through the banking system could also be channelled as investment in development projects.
He ordered all government bodies to begin transitioning public-private transactions to a cashless model and was updated on the current progress, including the fact that over 40 million users are already benefiting from the Raast system, with plans to expand this number further.
The Pakistan Digital Authority has been proactive in laying the groundwork for this transformation. Additionally, the Digital Public Infrastructure Committee will work under the Minister of Information Technology, and a Cashless Pakistan Steering Committee has been set up at the Prime Minister’s Secretariat.
Participants were also briefed about the ‘Smart Islamabad Pilot Project,’ an initiative by the Ministry of IT to make the capital Pakistan’s first fully cashless city.
The meeting was attended by Federal Minister for Economic Affairs Ahsan Iqbal, Minister for Petroleum Ali Pervaiz Malik, IT Minister Shaza Fatima, Minister for Climate Change Dr Musadik Malik, State Bank Governor Jameel Ahmad, and FBR Chairman Rashid Mahmood Langrial.
