PM forms committee to promote cashless, digital economy

June 18, 2025 (MLN): A committee has been constituted by Prime Minister Muhammad Shehbaz Sharif to promote a cashless economy and the digitization of the economy.

The decision was made during a high-level meeting held in Islamabad on Wednesday, with the Prime Minister in the chair.

The newly formed committee will review progress on relevant measures on a weekly basis under the chairmanship of the Prime Minister.

During the meeting, the Prime Minister emphasized that the digitization of the economy remains one of the foremost priorities of the government’s reform agenda.

He directed that digital payments and digital transfer of funds be encouraged through appropriate policy measures, as per the press release issued.

He also outlined that several proposals aimed at promoting a cashless economy have been included in the federal budget for the next financial year.

The Prime Minister further stated that the government is actively working to promote digital transactions for shopping and money transfers, with the aim of discouraging the informal economy.

Citing recent initiatives, he said that the transfer of funds to rightful beneficiaries via digital wallets during the holy month of Ramazan was carried out in a transparent, efficient, and effective manner.

The use of digital wallets, he noted, ensured that aid reached its recipients without any human interference, thereby fostering transparency in distribution.

Shehbaz Sharif also pointed out that the country has seen a decline in inflation and an increase in foreign remittances, reflecting improvements in the national economy.

He said that the bullish trend in the stock market serves as evidence of investors' confidence in the government’s policies and credited the government’s economic teams for their effective efforts, attributing their success to the grace of Almighty Allah.

The meeting was informed that traders have been instructed to adopt digital payments and money transfers.

It was also briefed that swift measures are underway to promote a cashless economy across society, with active involvement from the Ministries of Finance and Information Technology.