Prime Minister Shehbaz Sharif has initiated a major policy shift to transform Pakistan into a cashless economy, forming three high-powered committees to accelerate the adoption of digital payments and build a transparent, digitally connected financial system. In a high-level meeting held in Islamabad, the prime minister emphasized that moving away from cash is no longer optional but a necessary step for national economic growth and accountability.
The three newly formed bodies – the Digital Payments Innovation and Adoption Committee, the Digital Public Infrastructure Committee, and the Government Payments Committee – have been assigned the task of designing and implementing policy frameworks to fast-track digital transactions between citizens, businesses, and the state. These bodies are also responsible for reviving the long-dormant Pakistan Digital Authority and preparing a national digital master plan that aligns with international best practices.
Prime Minister Sharif stressed that digital payments must be made more accessible and cost-effective than traditional cash transactions to gain the trust and adoption of the general public. Highlighting the global shift towards cashless systems, he stated that Pakistan must embrace this transformation to remain economically competitive.
The meeting included detailed briefings on the current status of RAAST, Pakistan’s flagship digital payment platform, which already supports over 40 million users. Federal financial transactions are now fully routed through RAAST, with plans underway to extend its reach to all provincial levels. The prime minister directed that the system’s expansion to provincial governments be prioritized to ensure nationwide interoperability and consistency.
A key announcement made during the session was the pilot initiative to convert Islamabad into the country’s first fully cashless city under the Smart Islamabad project. This program, led by the Ministry of IT, aims to serve as a model for other regions to follow and will test the feasibility of a completely digital transaction ecosystem in urban settings.
The Digital Public Infrastructure Committee will operate under the Ministry of IT, while the Government Payments Committee, also referred to as the Cashless Pakistan Steering Committee, will function under the Prime Minister’s Secretariat. Both committees are expected to collaborate closely with financial institutions, fintech stakeholders, and regulatory bodies to ensure inclusive development of the digital payments landscape.
Prime Minister Sharif also outlined that transitioning public-private sector payments to digital systems would help formalize the economy, improve transparency, and enhance development financing channels. The integration of fintech into public services was described as a crucial step toward strengthening investor confidence and supporting financial inclusion efforts.
The meeting was attended by senior cabinet members including ministers from economic affairs, IT, petroleum, and climate change, as well as the governor of the State Bank of Pakistan and heads of major regulatory bodies. The initiative signals a coordinated, top-level push to institutionalize digital finance as a pillar of Pakistan’s future economic infrastructure.
