PM lauds progress on Pakistan's cashless economy shift

July 14, 2026 (MLN): Prime Minister Shehbaz Sharif have lauded the economic team for significant progress in promoting digital payments and advancing the country's transition towards a cashless economy over the past year, saying the shift would enhance transparency, improve financial inclusion and support sustainable economic growth.

Chairing a meeting on the promotion of a cashless economy and digital payments, the prime minister termed the 300% increase in active merchants using QR code-based digital payments within a year a major achievement, along with the rise in mobile banking application users from 95m to 137m.

According to the meeting, the number of merchants receiving digital payments rose 300% between June 2025 and June 2026, reaching 2,003,000, while 99% of NADRA's payments have been digitised and cash payments have declined from 71% to just 1%.

It was further informed that all payments to 10m Benazir Income Support Programme (BISP) beneficiaries are now being made through digital wallets, and that 11.9bn digital transactions were recorded between July 2025 and June 2026.

Overseas Pakistanis remitted 92% of their remittances through digital channels during the past year, the meeting was told, while an independent third-party validation of the cashless economy initiative is underway, with the final report and recommendations to be presented in November 2026.

The prime minister directed authorities to strengthen awareness campaigns to encourage greater adoption of QR code-based digital payments among merchants, and called on banks and financial institutions to play a more proactive role in accelerating the country's shift to a cashless economy.

He also directed that all overseas remittances be received through digital channels.

The prime minister appreciated the initiative to shift BISP payments to a digital system, calling it more transparent, faster and more convenient for beneficiaries.

The meeting was informed that the Pakistan Banks' Association has assigned targets to member banks to promote digital payments, including the RAAST instant payment system.

The meeting was attended by Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Shaza Fatima Khawaja and Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, State Bank Governor Jameel Ahmad, the Chairman of NADRA, and senior officials from relevant institutions.

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