In a significant move to fast-track the digitalization of Pakistan’s financial landscape, the Government of Pakistan has constituted a high-powered steering committee tasked with accelerating the adoption of digital payments and transforming the economy into a cashless system. This initiative is aligned with the country’s broader vision for a digitally empowered and financially inclusive society.
According to the official notification issued on June 22, 2025, the steering committee will be convened by the Prime Minister and comprise a mix of senior government officials and private sector executives with deep expertise in technology, banking, and digital finance. Key members include the Federal Ministers for Finance and Revenue, Petroleum, and Information Technology and Telecommunications. Additional representation comes from the Federal Secretary of the IT Ministry, the Chairman of the Federal Board of Revenue, the Governor of State Bank of Pakistan, the Accountant General of Pakistan, and the Chairman of NADRA.
From the financial and telecom sectors, prominent figures such as Zafar Masood, Chairman of the Pakistan Banks Association; Syed Sohail Javaad, CEO of RAAST Payments Pakistan; Aamir Ibrahim, CEO of Mobilink Pakistan; Atif Aslam Bajwa, CEO of Alfalah Bank; and Jahanzeb Khan, CEO/President of Easypaisa Bank are also part of the committee. Waqas ul Hasan, CEO of Karandaaz, will serve as the committee’s Secretary. The committee will also include two Members of the National Assembly nominated by the Prime Minister.
The committee has been given a clear mandate with strategic terms of reference. It will develop a unified vision for achieving a Cashless Pakistan, setting high-level digital payment targets for the next three years. One of its major responsibilities will be to propose governance structures and rollout strategies for Raast Payments as the national digital payment utility.
It will also advise on mandating Raast QR codes across payment and collection points nationwide and recommend supporting policies, including merchant onboarding, open banking frameworks, and financial incentives. The committee will assess gaps in critical digital infrastructure such as electronic Know Your Customer (e-KYC), digital identification, and credit scoring systems. It is also expected to recommend strategies and timelines to bridge these gaps.
Another area of focus is the full-scale digitalization of Government-to-Person (G2P) and Person-to-Government (P2G) transactions through Raast. This includes devising mechanisms to engage provincial and autonomous bodies for smooth adoption. Moreover, the committee will guide pilot projects in priority sectors, gather industry and public feedback, and promote awareness-building around digital payments, trust mechanisms, and fraud mitigation measures.
The committee will have the authority to co-opt additional members as needed for effective execution of its mandate. Meetings are scheduled on a weekly basis, and the Ministry of Information Technology and Telecommunication will handle the secretariat duties to support the committee’s operational requirements.
This committee represents a decisive step toward embedding digital financial services into Pakistan’s economic infrastructure, reinforcing the national commitment to building a secure and inclusive digital economy.
