Prime Minister Shehbaz approves Cashless Pakistan Strategy

ISLAMABAD: Finance Minister Muhammad Aurangzeb has submitted a written report on the government’s strategy for promoting a cashless economy in Parliament.

The government has initiated important steps to promote a cashless economy.

According to Finance Minister Muhammad Aurangzeb, the government has set a target of Rs 115 billion for digital transactions in the current financial year.

He said that the Prime Minister has approved the Cashless Pakistan Strategy.

According to the report, 4 major goals have been set with the vision of a digital economy, which will be achieved by June 2026. The Federal Minister said that payments are being made easily, securely, and are accessible to all.

According to the report, the volume of digital transactions will increase to Rs 115 billion.

The target is to increase the number of merchants engaged in digital payments, including QR codes, to 2 million.

There is a plan to increase the number of digital app users from 95 million to 120 million.

The report said that 100 percent collection of remittances through digital means will be ensured. Work is also underway to strengthen digital infrastructure and promote internet availability.

Government payments and receipts are being rapidly digitized through the Rast system.

The Finance Minister said that the implementation of the Rast QR Code will be ensured through banks and payment institutions.