Islamabad (Web Desk): Prime Minister Shehbaz Sharif has constituted a high-level committee to promote a cashless economy and the digitisation of financial systems in the country.
The decision was made during a meeting held in Islamabad on Wednesday, chaired by the prime minister, which focused on advancing the government’s digitisation agenda.
The newly formed committee will review progress on a weekly basis under the direct supervision of the premier.
During the meeting, PM Shehbaz emphasized that digitizing the economy is one of the top priorities of the government’s reform initiatives.
He directed the relevant authorities to introduce policy measures that would encourage digital payments and fund transfers, aiming to modernize the financial infrastructure.
The prime minister noted that the federal budget for the upcoming financial year includes several proposed steps to promote a cashless economy.
He also highlighted the importance of promoting digital transactions for everyday shopping and money transfers, pointing out that this would help reduce the size of the informal economy.
Referring to recent efforts during the holy month of Ramazan, PM Shehbaz said that the distribution of financial aid through digital wallets was handled transparently, efficiently, and without any human interference, ensuring that beneficiaries received their assistance in a fair manner.
He added that such practices encourage transparency and accountability in public welfare programmes.
PM Shehbaz further remarked that recent economic indicators reflect positive momentum. He cited a decline in the inflation rate and an increase in foreign remittances as signs of economic improvement.
The premier also pointed to the bullish trend in the stock market as evidence of investor confidence in the government’s policies, attributing the positive outcomes to the dedicated efforts of the government’s economic teams and, by the grace of Almighty Allah, the favourable conditions resulting from those efforts.
The meeting was informed that traders across the country have been directed to use digital payment methods and embrace electronic money transfers.
Swift measures are being undertaken to integrate cashless transactions into daily commercial activities.
Officials also briefed the meeting on the progress of various initiatives being implemented by the ministries of finance and information technology to support the transition toward a digital economy.
Federal Ministers including Muhammad Aurangzeb, Ahad Khan Cheema, Shaza Fatima Khawaja, Minister of State Bilal Azhar Kayani, and Federal Board of Revenue (FBR) chairman and other high officials attended the meeting.
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