Prime Minister Shehbaz Sharif has called upon banks and financial institutions to play their full role in promoting the cashless economy. Chairing a meeting in Islamabad today, the Prime Minister commended the economic team’s performance regarding the progress made over the past year in transforming Pakistan’s economy into a cashless one based on digital payments. The Prime Minister directed authorities to further strengthen awareness campaigns to encourage merchants to adopt QR code-based digital payments. He said the increase in the number of mobile banking app users from 95 million to 137 million within one year is a major achievement. Shehbaz Sharif directed that all overseas remittances be processed through digital channels. He appreciated the transition of Benazir Income Support Programme (BISP) payments to a digital system, describing it as being transparent, efficient and more convenient for beneficiaries. The meeting was informed that the number of merchants receiving digital payments increased by three hundred percent in the past one year. It was informed that payments to ten million Benazir Income Support Programme beneficiaries are now being made through digital wallets. Ninety-two percent of remittances received over the past year were transferred through digital channels. It was informed that a third-party validation of the cashless economy initiative is underway, and the final report along with recommendations will be submitted in November this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
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