Prime Minister Shehbaz Sharif on Wednesday established a high-level committee to promote a cashless economy and accelerate the digitisation process across the country.
The decision was made during a meeting chaired by the prime minister in Islamabad, where he stressed that economic digitisation is one of the government’s top reform priorities.
He also instructed relevant authorities to develop and implement policy initiatives aimed at encouraging digital money transfers and payments.
“The government has proposed a number of initiatives in the federal budget 2025-26 for the promotion of a cashless economy,” said PM Shehbaz, adding that the government’s broader strategy includes discouraging the informal economy and expanding digital transaction systems for shopping and financial transfers.
Highlighting the successful use of digital technology in public welfare, the prime minister cited the recent holy month of Ramadan, during which financial assistance was distributed through digital wallets.
“The transfer of funds to rightful beneficiaries through digital wallets was ensured in a transparent, efficient, and effective manner,” he stated.
“This approach ensured that beneficiaries received their rightful assistance without any human interference, allowing for a transparent distribution of aid,” he added.
Commenting on the economic situation, the prime minister was of the view that the inflation rate decreased and the foreign remittances increased due to improvements in country’s economy.
The premier also pointed to a strong stock market performance, saying: “Bullish trend in the stock market reflects the investors’ trust over the government policies.”
During the meeting, officials briefed attendees on efforts by finance and IT ministries to support digital transformation.
The meeting was also informed that the traders were given instructions regarding digital payments and transfers of money through digital means.
The meeting was attended by Federal Ministers Muhammad Aurangzeb, Ahad Khan Cheema, Shaza Fatima Khawaja, Minister of State Bilal Azhar Kayani, FBR chief, and other senior officials.