A high-level weekly meeting on Pakistan’s shift to a cashless and digital economy was led by Prime Minister Shehbaz Sharif on Monday. Sharif emphasised the government’s dedication to openness, accountability, and the convenience of conducting business through digitisation.
In addition to ordering that all State-Owned Enterprises (SOEs) be placed under the digital system’s jurisdiction, the PM asked authorities to finish the appointment of the Board of Governors and Chairman of Raast, Pakistan’s digital payment platform, by September.
During the discussion, he was informed that the first phase of the government’s digital economy roadmap would fully implement the digitisation of payments, including salaries, pensions, and contractor transactions. In order to promote growth and inclusivity, PM Shehbaz underlined that small and medium-sized enterprises must find it simpler to transition to a cashless economy.
The government’s main goal is to make the economy more transparent. During the discussion, he stated that digital solutions must benefit the business community as well as the general public.
Campaign for public awareness and infrastructure development
The prime minister was informed by officials that in order to promote adoption, a national public awareness campaign regarding Raast and digital payments will begin next month. The government has eliminated import taxes on digital payment devices to ease this transition and make it simpler for consumers and companies to obtain the tools they need.
While the Digital Payments Index, which aims to bring Pakistan’s economy into line with international digital standards, is scheduled to start in less than a month, an advertisement for the position of CEO of Raast has been published.
As the public’s use of fintech services grows, it is anticipated that the volume of digital payments will double from Rs7.5 billion to Rs15 billion, and that the number of users of digital banking and mobile apps will increase from 95 million to 120 million.
Islamabad will be a Digital City Model
The CDA Board has authorised a right-of-way for digital public infrastructure in Islamabad in accordance with infrastructure development. Raast has been connected with the Islamabad City mobile application, and by December 2025, efforts are being made to set up e-libraries and public Wi-Fi in strategic areas of the capital.
In order to direct its strategy and guarantee that the system satisfies market demands, the Prime Minister also asked the Raast Board of Directors to include commercial and economic specialists.
