Islamabad hosted a significant ceremony under the chairmanship of Federal Minister for Railways, Muhammad Hanif Abbasi, where Pakistan Railways and Allied Bank Limited (ABL) signed a Memorandum of Understanding (MoU). The agreement paves the way for installing modern Point of Sale (POS) systems at 348 railway stations nationwide.
This initiative is aimed at streamlining ticketing, payment processing, and overall financial operations through automation and transparency. Speaking at the ceremony, Minister Hanif Abbasi reiterated the government’s commitment to aligning with the Prime Minister’s “Digital Pakistan” vision by fully digitizing the operations of Pakistan Railways.
“Pakistan Railways and ABL are working together as one team,” he noted, “with a shared goal of transforming the country into a modern, independent, and progressive state. This project will be completed within 60 days, with utmost dedication and urgency.”
The minister emphasized that passengers will soon be able to purchase tickets and pay for other railway services using debit or credit cards, reducing the dependency on cash. The rollout of POS systems is expected to significantly cut down manual processing and long queues, resulting in faster and more efficient transactions.
He also highlighted that the new system will allow for real-time monitoring of revenue, which is crucial for enhancing transparency and accountability. Additionally, it will minimize financial fraud, theft, and calculation errors.
Under ABL’s merchant services, food stalls, kiosks, and small vendors operating at railway stations will also be empowered to accept digital payments. This is a major step towards financial inclusion, as it brings small businesses into the formal banking framework and promotes a cashless economy at the grassroots level.
The MoU was signed by Mr. Ali Raza, Director IT at Pakistan Railways, and Mr. Farrukh Zaib Khan, Unit Head of Digital Banking at ABL. The event was attended by top officials from Pakistan Railways including Chairman Syed Mazhar Ali Shah, CEO Aamir Baloch, and Divisional Superintendent Rawalpindi Nooruddin. All divisional superintendents joined virtually via video link.
Representing ABL were Faisal Rasheed Ghori (Group Head Banking Services), Sajjad Hussain (Group Head Business), and Farrukh Zaib Khan.
