Pakistan is set to disburse the next installment of Benazir Income Support Programme (BISP) payments through digital wallets, signaling a major stride toward the country’s broader cashless economy objectives. Prime Minister Shehbaz Sharif highlighted the importance of digitalization in achieving sustainable economic growth and ensuring Pakistan keeps pace with global trends in financial technology.
During a high-level meeting in Islamabad on Monday to review the progress of cashless economy initiatives, the Prime Minister noted that Pakistan had prioritized digital transformation from the outset, and visible results are now emerging across multiple sectors. The meeting also included Finance Minister Muhammad Aurangzeb, IT Minister Shaza Fatima Khawaja, State Bank Governor Jameel Ahmad, FBR Chairman Rashid Mahmood Langrial, and senior officials from NADRA and other relevant departments.
According to a briefing shared during the session, key utility services, including electricity and gas bill payments, have now been integrated with the Raast QR code system. This enables consumers to make payments digitally rather than relying on cash transactions, streamlining financial processes and improving transparency.
A major highlight of the meeting was the update on the BISP digital wallets. Officials revealed that one million digital wallets have been developed for program beneficiaries, which will become fully operational by the end of the month. This will allow direct digital transfers to recipients, reducing reliance on cash distribution networks, minimizing administrative costs, and improving accountability in social safety net disbursements.
The Prime Minister was also briefed on broader digital payment initiatives in Islamabad. A mobile application for government services in the capital has been connected to the Raast payment platform, and all new business licenses are now linked to digital payment channels. Existing retail outlets have been equipped to accept QR code payments, while licenses for new digital banks are being issued to expand financial access nationwide.
Highlighting the progress in financial inclusion, the meeting noted that 68% of Pakistan’s population now has access to formal financial services. The Prime Minister directed ministries and regulators to accelerate these efforts, emphasizing that cashless economy reforms will not only enhance governance and service delivery but also curb corruption and improve transparency.
The move to digital wallets for BISP payments is expected to set a precedent for other social welfare programs, creating an integrated digital financial ecosystem across Pakistan. By leveraging fintech solutions like Raast and mobile wallet platforms, the government aims to improve convenience for citizens, reduce cash handling, and modernize the delivery of public services.
This initiative represents a significant milestone in Pakistan’s journey toward a fully digital economy, fostering financial inclusion, transparency, and efficiency across both government and private sectors.
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