PM Shehbaz forms high-level committee to drive digital economy

ISLAMABAD: Prime Minister of Pakistan Shehbaz Sharif on Wednesday constituted a high-level committee under his chairmanship to promote a cashless and digitalized economy.

The committee, which will meet weekly, has been tasked with reviewing the progress of digitalization initiatives across the country. Officials familiar with the developments said that key measures to support the digital financial system have already been included in the recently announced federal budget.

Speaking on the occasion, PM Shehbaz Sharif said that digitalization of the economy is among the top priorities of the government. “By encouraging digital payments and money transfers, we aim to curb the informal economy and ensure greater transparency in financial transactions,” he said.

Highlighting the government’s efforts during Ramadan, the prime minister noted that financial assistance was provided to eligible individuals through digital wallets, enabling a transparent and efficient distribution mechanism.

“This approach ensured that aid reached the rightful recipients directly, without any intermediaries,” he added.

The Prime Minister added that a robust digital financial ecosystem could pave the way for lower inflation, higher remittances and an overall improvement in the country’s economic outlook. He said that the recent rise in the Pakistan Stock Exchange reflected investors’ growing confidence in the government’s economic policies.

PM Sharif also attributed the ongoing economic recovery to the hard work of the economic team and the “grace of Allah”, reiterating the government’s commitment to sustainable growth through innovation and structural reforms.