February 15, 2022: Federal Minister for Finance and Revenue Shaukat Tarin said on Tuesday that the government intended to announce a relief package for the middle, lower-middle and salaried class within days to help them cope with the current wave of inflation.
The relief package would be announced within the next 10 to 15 days, he said this while addressing the launching ceremony of ‘Raast Digital Payment System ’.
Talking about digitization, the federal minister said, with public-private coordination, the government was ready to introduce digitalization of transactions to pace up the e-commerce drive in the country.
“I consulted with all stakeholders including the relevant players of the e-commerce industry and also got feedback from freelancers to resolve the issues faced by the e-commerce sector including the money channel and provide them banking channel to ease their e-trading,” the federal minister said.
He said that after the implementation of digitization through ‘Raast Digital Payment System’ the country’s exports in information technology and commerce would increase.
He said that Raast system would improve overall efficiency that would reduce cash circulation and resultantly improve deposits held by the banks and ultimately would lead to increased saving rates from the current 15 percent to 28-30 percent.
He said, commonly the cash settlements were being made through cheques, which is time taking, but with the help of Raast digital payment system, the transfers could be made within seconds now.
