The federal government has accelerated its drive toward establishing a fully digitized financial ecosystem as Prime Minister Shehbaz Sharif directed that foreign remittances be completely digitized. Chairing a high-level review meeting in Islamabad focused on promoting a cashless economy and expanding digital transaction channels, the premier emphasized that transitioning the country away from cash-based systems is vital for securing sustainable economic growth and ensuring absolute transparency in financial flows. During the session, the Prime Minister’s Office issued instructions to launch more effective awareness campaigns aimed at encouraging local merchants to adopt QR code payment mechanisms, while setting a target to achieve one hundred percent digital processing for all inward remittances.
This strategic push comes on the back of notable progress in the country’s external sector, where overseas workers’ remittances remain a critical stabilizing force. The briefing revealed that ninety-two percent of remittance funds were received through digital channels over the past year, a period during which total inflows reached a record forty-one point six billion dollars. To build on this momentum, the state recently expanded its Roshan Digital Account framework, allowing foreign nationals and international investors to utilize the platform which was previously restricted only to non-resident citizens. The prime minister commended the economic team for these structural improvements, noting that shifting to digital remittance channels protects foreign exchange reserves and minimizes informal transfer networks.
The meeting showcased rapid growth across several digital banking indicators over the last twelve months. According to data presented by the economic team, the number of active merchants utilizing QR codes for digital retail payments witnessed an impressive three hundred percent increase between June 2025 and June 2026, reaching a total of two million merchants nationwide. Furthermore, the number of mobile banking application users in the country surged from ninety-five million to one hundred and thirty-seven million within a single year. Between July 2025 and June 2026, the national financial grid recorded a staggering eleven point nine billion digital transactions, prompting the premier to call upon commercial banks to take an even more proactive role in phase-shifting the country’s payment infrastructure.
In addition to private commerce, public sector disbursements have undergone a significant digital transformation. The premier lauded the shifting of the Benazir Income Support Programme payments to a digital system, describing the transition as a highly transparent, swift, and secure method to assist vulnerable families. The briefing confirmed that all payments to the ten million beneficiaries of the welfare program are now executed directly through digital wallets, eliminating middlemen and cash handling leakages. Similarly, the National Database and Registration Authority has successfully digitized ninety-nine percent of its transactional services, causing cash-based payments within the authority to plummet from seventy-one percent to just one percent.
The high-profile session was attended by key cabinet members and financial regulators, including Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Khan Cheema, IT Minister Shaza Fatima Khawaja, Petroleum Minister Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, State Bank of Pakistan Governor Jameel Ahmad, and Nadra Chairman Lieutenant General Muhammad Munir Afsar. The forum was told that third-party validation processes regarding the cashless economy are currently underway, with a comprehensive final report and policy recommendations scheduled to be presented to the cabinet in November. Supported by clear goals set by the Pakistan Banking Association to promote instant payment systems like Raast, the state’s unified digital push marks a determined effort to formalize the national economy and integrate Pakistan into the global digital financial landscape.
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