ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed the formation of three specialised committees — the Digital Payments Innovation and Adoption Committee, the Digital Public Infrastructure Committee, and the Government Payments Committee — to promote a cashless economy across the country.

These sub-committees will present recommendations to facilitate payments between citizens and businesses, raise awareness about digital systems, activate the Pakistan Digital Authority, formulate a national digital master plan, and streamline transactions between the government and the private sector.

The prime minister chaired a high-level meeting to discuss measures for promoting a cashless economy.

He emphasised the importance of making digital transactions more affordable than cash and accessible to the public in order to promote a cashless system.

The PM also instructed that the RAAST digital payment system be established at the federal level and also across all provinces.

“Establishing a digital transaction system is crucial for bringing transparency to the economy,” the prime minister said, adding that cashless systems are being prioritised in developed and successful economies around the world.

“Modern technology must be used to implement a robust digital payments infrastructure,” Shehbaz Sharif said.

The prime minister noted that funds circulating through the banking system can be used for investment in development projects.

He directed government agencies to begin the process of switchover of all transactions between the public and private sectors to a cashless model.

During the briefing, the prime minister was updated on progress made toward implementing a nationwide cashless system.

Mr Sharif was informed that over 40 million users were benefiting from the RAAST system and initiatives were underway to raise this number.

All financial transactions of the federal government are now conducted through the RAAST system and steps are being taken to expand it to the provincial level.

The Pakistan Digital Authority has taken a number of initiatives to push the economy toward a cashless model since its inception.

The Digital Public Infrastructure Committee will function under control of the Ministry of IT, while the Cashless Pakistan Steering Committee has been set up within the Prime Minister’s Secretariat.

Smart Islamabad Pilot Project

As part of the Smart Islamabad Pilot Project, the IT ministry is taking steps to make Islamabad the country’s first cashless city, the meeting was told.

The meeting was attended, among others, by Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervaiz Malik, IT Minister Shaza Fatima Khawaja, Minister for Climate Change Dr Musadik Malik, the State Bank Governor Jameel Ahmed and Federal Board of Revenue Chairman Rashid Mahmood Langrial.

Published in Dawn, June 24th, 2025