Prime Minister Shehbaz Sharif on Wednesday established a high-level committee under his chairmanship, aimed at accelerating Pakistan’s transition to a cashless and digitized economy.
The committee is mandated to convene weekly to review the progress of ongoing digitization initiatives nationwide. Officials close to the development indicated that several key measures to bolster a digital financial system have already been integrated into the recently unveiled federal budget.
During the announcement, Prime Minister Sharif underscored that economic digitization is a top government priority. “By encouraging digital payments and money transfers, we aim to restrict the informal economy and ensure greater transparency in financial transactions,” he stated.
The premier highlighted the government’s efforts during Ramadan, where financial aid was digitally disbursed to eligible individuals via digital wallets, ensuring a transparent and efficient distribution. “This approach ensured that assistance reached the rightful recipients directly, without intermediaries,” he added.
Prime Minister Sharif further asserted that a robust digital financial ecosystem could lead to reduced inflation, higher remittances, and an overall improvement in the country’s economic outlook. He pointed to the recent surge in the Pakistan Stock Exchange as a reflection of growing investor confidence in the government’s economic policies.
Mr. Sharif also attributed the current economic recovery to the diligent work of his economic team and the “grace of Allah,” reiterating the government’s commitment to achieving sustainable growth through innovation and structural reforms.
