SLAMABAD – σAPP:Prime Minister Muhammad Shehbaz Sharif Monday said top priority of the government was to bring transparency in the economy through digitization system.
He was chairing the weekly meeting on cashless and digital economy.
He said digitization of the payment mechanism from government to people and people to government will create transparency and ease for consumers.
He directed that the steps of digitization and cashless economy should be made easier for small and medium entrepreneurs.
He said the appointment of the Board of Governors and Chairman of Raast should be completed by September.
Experts of economy and business should be included in the Board of Directors of Raast, he added.
The prime minister said all State-Owned Enterprises (SOEs) should also be brought under the purview of the digital system.
He directed that the progress towards digital economy should be accelerated further.
The meeting was briefed on the progress made in introducing cashless and digital economy.
It was told that Raast has advertised for the appointment of its Chief Executive Officer.
The number of users using mobile phone applications and digital banking will increase from 95 million to 120 million. Digital payments will increase from Rs 7.5 billion to Rs 15 billion.
A nationwide public awareness campaign on Raast and digital payments will be launched next month. While import duty on digital payment devices was abolished.
The meeting was told that Digital Payments Index was being launched within a month to bring the economy at par with developed countries.
CDA Board had approved right-of-way for digital public infrastructure in Islamabad.
It was told that the remittance system was also being digitized and all funds coming from foreign countries will be received through the banking system.
The governments of all four provinces, Gilgit-Baltistan and Azad Jammu and Kashmir were also being partnered with on digital payments. Islamabad City mobile phone application had been linked with Raast.
Public Wi-Fi and e-libraries at designated locations in Islamabad will be completed by December 2025.
As per the Prime Minister’s directive, third-party validation of digital public infrastructure will also be done and preliminary work was being completed in this regard.
The State Bank of Pakistan has given necessary instructions to the federal government, provincial governments and regulatory bodies regarding the adoption of QR codes as an important payment method.
