Islamabad (HRNW)-\u00a0Prime Minister Shehbaz Sharif has expressed satisfaction over the significant growth in digital payments and banking services across Pakistan, describing the promotion of a cashless economy as a key step toward sustainable economic development and greater financial transparency.<\/p>\n
The remarks came during a meeting chaired by the Prime Minister to review progress made over the past year in transforming Pakistan\u2019s economy into a digital, cashless system.<\/p>\n
Prime Minister Shehbaz Sharif praised the performance of the government’s economic team, stating that the transition to digital payments would strengthen the economy and improve transparency. He particularly appreciated the 300 percent increase in the number of merchants using QR codes for digital payments and directed authorities to expand awareness campaigns to encourage more businesses to adopt the system.<\/p>\n
The Prime Minister also described the increase in mobile banking app users from 95 million to 137 million within a year as a major achievement and emphasized the important role of banks and financial institutions in promoting a cashless economy.<\/p>\n
He further directed that all remittances from overseas Pakistanis should be made 100 percent digital and praised the digitization of Benazir Income Support Programme (BISP) payments, calling the initiative transparent, efficient, and convenient for beneficiaries.<\/p>\n
Officials briefing the meeting said that the number of merchants accepting digital payments had increased by 300 percent, reaching 2.003 million between June 2025 and June 2026. They added that 99 percent of NADRA payments have now been digitized, reducing cash transactions from 71 percent to just one percent.<\/p>\n
The meeting was informed that all payments to 10 million BISP beneficiaries are now being made through digital wallets, while 11.9 billion digital transactions were recorded between July 2025 and June 2026. Officials also stated that 92 percent of overseas remittances were received digitally during the last year.<\/p>\n
The briefing further noted that a third-party validation process for Pakistan\u2019s cashless economy initiative is currently underway, with a final report and recommendations expected in November 2026. It was also shared that the Pakistan Banking Association has assigned digital payment targets to member banks, including expanding the use of the RAAST payment system.<\/p>\n
The meeting was attended by Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Shaza Fatima Khawaja, Ali Pervez Malik, Minister of State for Finance Bilal Azhar Kayani, State Bank Governor Jameel Ahmad, NADRA Chairman, and senior officials from relevant institutions.<\/p>\n
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