By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed authorities to prepare a “clear roadmap and time-bound targets” for a 100% digital payments system, the latest push in a drive he has framed as central to bringing transparency to the economy.
Sharif chaired a high-level meeting in Islamabad on promoting a cashless economy, according to a statement from the Prime Minister’s Office. The statement didn’t say when the full target should be reached, leaving that to the plan officials are now expected to produce.
“The issues faced by users in the digital payments system should be resolved immediately,” Sharif said. He also said that internet access across the country and easy public access to technology “must be ensured” to support the shift.
“Promoting a cashless economy is one of the government’s top priorities, with its positive results already beginning to emerge,” he said, according to the statement. He praised what he called “ongoing successful efforts by the Ministry of Finance and all relevant state institutions.”
Sharif singled out Raast, the State Bank of Pakistan’s instant payment system. “The payment system through Raast QR codes is proving instrumental in achieving the government’s vision of a cashless economy,” he said. He directed that a scheme promoting consumer-to-merchant payments through Raast QR codes continue under government patronage.
He also ordered a media campaign urging electricity and gas customers to pay through QR codes printed on their bills. All ministries and government institutions were told to ensure full implementation of the cashless economy plan.
Cheques Phased Out
Officials told the meeting that digitisation of payments across federal and provincial government bodies was progressing rapidly, and that payments in “most institutions” would be fully digital by December 2026, the PMO said.
Cheque payments into Asaan Assignment Accounts will stop on Nov. 15, with all such payments across the country made through Raast from Nov. 16. Drawing and disbursing officers have already been trained for the change, the PMO said.
Every payment under the Benazir Income Support Programme is now made through digital wallets, officials said. They added that work is under way on a modern system for digital payments in areas without internet access, and that infrastructure to extend internet coverage is moving quickly.
The meeting was attended by Finance Minister Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, State Bank Governor Jameel Ahmad, all provincial chief secretaries and senior officials, along with several other federal ministers.
Building on Earlier Targets
The directive follows a string of similar orders. Sharif formed a high-level committee on the cashless economy in June last year. In July 2025 he ordered the doubling of key digital targets, including mobile payments, QR code adoption and transaction volumes. This July, he directed that remittances from abroad be fully digitised.
Officials presented figures at that July meeting. About 92% of remittances were already arriving through digital channels, mobile banking users had grown to 137 million from 95 million, and the number of QR-code merchants had risen 300% in a year to about 2 million. Pakistan recorded 11.9 billion digital transactions between July 2025 and June 2026. Gulf News reported that remittances reached a record $41.6 billion last year.
Raast, developed by the State Bank of Pakistan and launched in January 2021, has become the backbone of the effort. The central bank has also allowed exchange companies to use it to process home remittances.
The federal government says the push is part of wider reforms to strengthen the financial system, including changes to the tax system and efforts to raise the efficiency of the Federal Board of Revenue. Sharif has repeatedly said digital transaction systems are vital to bringing transparency to the economy.
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