Pakistan Digital Stack: A collaborative effort to boost digitization

MG News | January 18, 2024 at 10:06 AM GMT+05:00

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January 18, 2024 (MLN): The creation of digital stack in Pakistan by the Bill & Melinda Gates Foundation and Karandaaz aligns with the government's digitization policy, Caretaker Minister for Finance, Dr. Shamsad Akhtar stated while addressing the 'Pakistan Digital Stack' workshop held in Islamabad.

Digital transactions empower the general public as well as business individuals to complete financial transactions in a timely and convenient manner, she expressed.

The State Bank of Pakistan, Securities & Exchange Commission of Pakistan (SECP), National Accountability Bureau (NAB), and other government institutions are actively participating in the implementation of Pakistan Digital Stack.

Establishing partnerships through Pakistan Digital Stack aims to strengthen the country on digital platforms, Dr. Shamsad Akhtar said.

This project is crucial for Pakistan's development, and all necessary means will be employed for its success, the minister highlighted.

“We are committed to bringing financial inclusion, gender empowerment, poverty reduction, and transparency in governance to Pakistan,” she stated.

Governance systems in countries like the United Arab Emirates, Estonia, and Singapore have improved significantly through the adoption of digital stack.

The success of digital stack on a global scale reflects its immense potential, Dr. Shamsad Akhtar highlighted.

Through digital stack, millions of Pakistanis will have ease in daily financial transactions, she added.

The minister said that digital stack will bring improvement in relations with government institutions and economic activities.

The collaboration between State Bank and Carandaaz has led to the establishment of the 'Rast' platform; now it is time to bring innovation to this digital financial system, Minister of Finance.

“A platform 'Raast' was established in collaboration with SBP and Karandaaz, now it is time to bring innovation to this digital financial system” she noted.

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