Prime Minister Shehbaz Sharif on Thursday directed relevant authorities to double national targets for digital payments, as the government strives to shift to a cashless economy.
Chairing a meeting on digital and cashless economy, Sharif described digital transactions as crucial to enhancing economic transparency. He stressed the urgent need to boost public awareness and streamline payment systems for both citizens and businesses.
During the meeting, officials briefed the premier on plans to increase the number of users utilizing digital payments through mobile apps from 95 million to 120 million, adding QR code-enabled merchants are set to rise from 900,000 to 2 million. They said the volume of digital transactions, currently at Rs. 7.5 billion, was anticipated to increase to Rs. 12 billion. However, the prime minister said these figures should be doubled.
The meeting also confirmed the formal establishment of three key committees tasked with driving digital transformation: the Digital Payments Innovation and Adoption Committee, the Digital Public Infrastructure Committee, and the Government Payments Committee. Each presented comprehensive strategies aimed at accelerating digitization across all sectors of the economy.
Officials informed the meeting that the State Bank of Pakistan is devising a strategy to simplify digital payments for traders, including plans to roll out a user-friendly package to attract small businesses. As part of the wider “Digital National Pakistan” initiative, a Digital Economy Project has been launched to lay the groundwork for a modern, tech-driven economic landscape.