Islamabad: In a concerted move to modernize its financial system, the Pakistani government, through the Minister of State for IT and Telecommunication Shaza Fatima Khawaja, affirmed its commitment to transitioning Pakistan into a cashless economy. The announcement was made during a meeting of the high-level Committee on Promotion of Cashless Economy, highlighting steps toward reducing reliance on physical currency and promoting digital transactions.

According to Press Information Department, Minister Khawaja detailed the government’s strategies, including the adoption of the State Bank of Pakistan’s RAAST instant payment system, which is central to the cashless transition. She emphasized the pivotal role of digital payments in enhancing economic efficiency and growth, and called for accelerated efforts in digital financial inclusion.

The meeting also focused on the necessity of integrating data across government platforms to support better decision-making and streamline service delivery. “While there is significant progress in digitalization across government agencies, we need to break down silos and create a unified data platform,” stated Minister Khawaja.

The Committee on Promotion of Cashless Economy, chaired by the Minister of State for Finance and Revenue Ali Pervaiz Malik, includes key figures from various sectors such as IT, banking, telecom, and fintech. These stakeholders are tasked with driving the digital transition in collaboration with provincial governments and leading industry players like Jazz, Karandaaz, and NayaPay.