Karachi: The government is prioritizing the transition to a cashless economy and digitalization as a national economic goal, according to Minister of State for Finance and Railways, Bilal Azhar Kayani. Speaking at the “Pakistan Banking Association (PBA) Summit 2026” in Karachi, Kayani emphasized the pivotal role of the banking sector in achieving sustainable development and economic stability. He highlighted that Prime Minister Shehbaz Sharif has made digitalization a key focus, aiming to establish a transparent and strong financial framework.

According to Press Information Department, Kayani stressed that easing financial access for the private sector is a top government priority. He noted that recent structural reforms in the financial sector will bolster business activities and macroeconomic stability. The financial sector is being updated to align with modern standards, integrating technology to expand public convenience and support a digital economy.

Kayani also addressed digital reforms in the Benazir Income Support Program (BISP), noting its budget now exceeds 800 billion rupees, aiding over 10 million families. The introduction of digital wallets for beneficiaries aims to eliminate reliance on agents and administrative deductions. This initiative marks progress towards a cashless economy, as seen in the Prime Minister’s Ramadan Package, which used digital mechanisms to streamline aid distribution. Kayani expressed optimism that collaborative efforts will further advance the country’s digital economic transformation.