Prime Minister Shehbaz Sharif has said that Pakistan’s cashless economy initiative will support sustainable economic growth, improve transparency, and make financial transactions more efficient. Chairing a high-level meeting in Islamabad, he reviewed the country’s progress in expanding digital payments and praised the economic team’s achievements over the past year.
The prime minister highlighted significant growth in digital financial services, noting that mobile banking application users increased from 95 million to 137 million within a year. He described the surge as a major milestone in Pakistan’s transition toward a modern cashless economy supported by secure and accessible digital payment systems.
Shehbaz Sharif directed authorities to intensify public awareness campaigns encouraging businesses to adopt QR code-based payment methods. He stressed that expanding digital transactions among merchants would improve convenience for consumers, reduce reliance on cash, and strengthen financial documentation across the economy.
The prime minister also instructed that all overseas remittances should be processed through digital channels. He praised the digital transformation of the Benazir Income Support Programme (BISP), saying the new payment system has made financial assistance more transparent, efficient, and convenient for millions of beneficiaries.
Officials informed the meeting that the number of merchants accepting digital payments has increased by 300 percent during the past year. They also reported that payments to around 10 million BISP beneficiaries are now being transferred through digital wallets, while 92 percent of remittances received during the year were processed electronically.
The meeting further reviewed ongoing efforts to evaluate the national cashless economy programme. Officials said an independent third-party validation is currently underway, and a comprehensive report containing findings and policy recommendations is expected to be submitted in November.
Pakistan has been accelerating digital financial reforms to promote financial inclusion, improve tax documentation, and modernize payment systems. The government’s continued emphasis on a cashless economy reflects its broader strategy to build a transparent, efficient, and technology-driven financial ecosystem.
