Islamabad, June 18, 2025 – Prime Minister Shehbaz Sharif has taken a major step toward transforming Pakistan’s financial landscape by forming a high-powered committee to accelerate the adoption of a cashless economy and enhance the country’s digital payment infrastructure.
The committee, which will be chaired by Shehbaz himself, will hold weekly reviews to monitor progress and oversee initiatives focused on the promotion of cashless transactions and digitization of financial services. Speaking at a meeting in Islamabad, the prime minister stressed that fostering a cashless economy was a top priority of his reform agenda.
Shehbaz emphasized the need to strengthen digital platforms for money transfers and payments, highlighting that policy incentives were being rolled out under the federal budget 2025–26 to encourage this shift. He noted that the government’s recent budget proposals included several measures designed to facilitate a transition toward a cashless financial system.
He also pointed out that reducing reliance on cash would help discourage the informal economy and promote documented financial transactions, especially in retail and consumer sectors. “The goal is to ensure every citizen has access to secure and transparent digital financial tools,” said Shehbaz, adding that such efforts would support economic growth and curb corruption.
Citing a successful example, the prime minister shared that during Ramadan, financial aid was disbursed through digital wallets, allowing for efficient and interference-free distribution to the rightful recipients. This approach, he said, ensured full transparency and protected the dignity of beneficiaries.
Shehbaz also highlighted key improvements in Pakistan’s macroeconomic indicators, such as reduced inflation and rising foreign remittances, attributing the positive trends to improved governance and investor confidence. “The bullish stock market reflects growing trust in our policies,” he remarked.
Officials from the Finance and IT Ministries, as well as the Federal Board of Revenue, briefed the meeting on steps being taken to promote digital financial practices. Traders across the country are also being guided to adopt cashless methods for transactions.
Federal Ministers Muhammad Aurangzeb, Ahad Cheema, Shaza Fatima Khawaja, Bilal Azhar Kayani, and senior officials were present at the meeting led by Shehbaz.