ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif has formed a high-level committee to advance the country’s transition towards a cashless and digitised economy.
The committee was established during a meeting on Wednesday with Prime Minister Muhammad Shehbaz Sharif in the chair.
The committee will review the measures weekly under the chairmanship of the Prime Minister.
Speaking on the occasion, PM Sharif said that the digitization of the economy remains one of the government’s top priorities.
“By encouraging digital payments and money transfers, we aim to restrict the informal economy and ensure greater transparency in financial transactions,” the premier stated.
Highlighting the government’s efforts during Ramadan, the premier noted that financial aid was disbursed to eligible individuals through digital wallets, enabling a transparent and efficient distribution mechanism.
“This approach ensured that assistance reached the rightful recipients directly, without intermediaries,” he added.
PM Sharif stated that during the holy month of Ramadan, the transfer of funds to rightful beneficiaries via digital wallets was carried out in a transparent, efficient, and effective manner.
He further emphasised that the use of digital wallets ensured beneficiaries received their due assistance without any human interference, thereby promoting transparency in the distribution of aid.
The Prime Minister noted a decline in the inflation rate and an increase in foreign remittances, attributing these improvements to the overall recovery of the national economy.
He added that the bullish trend in the stock market reflects investor confidence in the government’s policies.
The meeting was informed that traders have been instructed to adopt digital payment methods and conduct money transfers through digital channels.
It was also highlighted that swift measures are being implemented to advance a cashless economy within the society.
Additionally, the meeting was briefed on the initiatives being undertaken by the Ministries of Finance and Information Technology to support this transition.
