ISLAMABAD (PEN) : Prime Minister Shehbaz Sharif has constituted a high-powered committee aimed at accelerating Pakistan’s transition toward a cashless economy and enhancing the country’s digital infrastructure. The initiative underscores the government’s commitment to reform and modernization of financial systems.
Committee to Oversee Weekly Progress
The newly established committee, chaired by the Prime Minister himself, will meet weekly to assess and monitor initiatives focused on digitization and the reduction of cash-based transactions. The decision was taken during a high-level meeting attended by key federal ministers and officials from the Ministries of Finance and Information Technology.
Government Pushes for Digital Payments
Highlighting digitization as a top priority, the Prime Minister directed concerned departments to promote digital money transfers and payments through supportive policy frameworks. He noted that multiple proposals to encourage a cashless economy had been included in the federal budget for fiscal year 2025–26.
Emphasizing the need to formalize the economy, Prime Minister Sharif said the government is taking steps to reduce reliance on cash and discourage informal economic activity. He cited recent efforts during Ramadan where financial aid was distributed via digital wallets, ensuring transparency and reducing the scope for human error or manipulation.
“During the holy month of Ramazan, the transfer of funds to rightful beneficiaries through digital wallets was ensured in a transparent, efficient, and effective manner,” the Prime Minister stated.
Economic Indicators Show Positive Trends
Prime Minister Sharif also pointed to recent improvements in macroeconomic indicators, including a decline in inflation and a rise in foreign remittances. He added that the Pakistan Stock Exchange’s upward trend reflects investor confidence in the government’s economic policies.
“Bullish trend in the stock market reflects the investors’ trust over the government policies,” he said. “By the grace of Allah Almighty, the government’s economic teams’ efforts are yielding fruits.”
Awareness Campaigns and Policy Integration
Officials briefed the meeting on progress made in engaging the business community, with instructions issued to traders to adopt digital payment methods. Initiatives from both the Finance Ministry and the IT Ministry were also presented, focusing on technology integration and infrastructure support for digital financial services.
Federal Ministers Muhammad Aurangzeb, Ahad Khan Cheema, Shaza Fatima Khawaja, Minister of State Bilal Azhar Kayani, FBR Chairman, and senior government officials were in attendance.
