Finance Division reviews digital payment progress, merchant adoption and government transactions ahead of the Prime Minister’s Cashless Initiative review.
Minister of State for Finance Bilal Azhar Kayani chaired a high-level meeting at the Finance Division on Wednesday to review preparations for the upcoming review of the Prime Minister’s Cashless Initiative.
Senior representatives from the Ministry of Finance, State Bank of Pakistan (SBP), NADRA, Capital Development Authority (CDA), Ministry of IT and Telecommunication, and private-sector stakeholders attended the meeting.
The minister reviewed progress made on directives issued earlier by Prime Minister Shehbaz Sharif and discussed measures aimed at accelerating Pakistan’s digital financial transformation.
New Targets for Cashless Dashboard
A major focus of the meeting was assessing progress achieved during the previous year and beginning the process of setting annual performance targets for the national Cashless Dashboard for the current fiscal year.
Officials also considered adding new analytical indicators to the dashboard. These indicators are intended to strengthen real-time monitoring, improve data transparency and provide a clearer picture of the country’s transition toward digital payments.
The meeting reviewed growth in the number of active digital merchants, overall digital transaction volumes and digital banking users during the previous year.
Government Payments to Be Digitised
Participants also examined progress in converting government payments to digital channels across state-owned enterprises (SOEs) and autonomous bodies.
The government reiterated its objective of fully digitising payments made to vendors, employees and pensioners. The move is expected to improve efficiency, transparency and traceability within public-sector financial transactions.
Officials further discussed measures to increase merchant adoption of digital payment systems across the country. A centralized merchant database was proposed to improve real-time visibility of transactions and support better monitoring of digital financial activity.
Focus on Public Convenience
The meeting also emphasized simplifying digital payment processes so citizens can make electronic payments conveniently across different services and touchpoints.
Reaffirming the government’s commitment to Prime Minister Shehbaz Sharif’s vision, Kayani said Pakistan was working toward a more transparent, documented and inclusive economy.
He stressed that regular reviews would continue to monitor implementation and ensure that digital financial reforms are carried out swiftly while maximizing convenience for the public.