Pakistan Cashless Economy: PM Shehbaz Orders 100% Digital Overseas Remittances

PM Shehbaz Directs Complete Digitisation of Overseas Remittances

Prime Minister Shehbaz Sharif has directed authorities to ensure that all overseas remittances are received through digital channels as the government steps up efforts to transform the Pakistan cashless economy and expand digital financial services across the country.

The directive was issued during a high-level meeting in Islamabad on Tuesday to review progress on promoting a cashless economy and increasing the use of digital payment systems.

According to a statement issued by the Prime Minister’s Office (PMO), the prime minister instructed officials to make awareness campaigns for QR code-based digital payments more effective and to achieve 100% digitisation of remittances received from abroad.

Officials informed the meeting that 92% of overseas remittances were already received through digital channels during the previous fiscal year, reflecting significant progress toward the government’s digitalisation goals.

Record Remittances Support Pakistan’s Economy

Workers’ remittances remain one of Pakistan’s most important sources of foreign exchange, providing critical support to the country’s external account.

During the last fiscal year, remittance inflows reached a record $41.6 billion, helping strengthen foreign exchange reserves and improve external sector stability.

The government’s push for digital remittances comes shortly after it expanded the scope of the Roshan Digital Account (RDA) initiative. Originally introduced for overseas Pakistanis, the programme has now been opened to foreign nationals and international investors to encourage greater investment into Pakistan.

QR Code Payments and Mobile Banking See Rapid Growth

During the meeting, Prime Minister Shehbaz praised the government’s economic team for the progress achieved over the past year in advancing the Pakistan cashless economy.

He said shifting the country’s financial system toward digital payments would improve transparency, reduce reliance on cash and support sustainable long-term economic growth.

The prime minister particularly appreciated the rapid expansion in the use of QR code payments, noting that the number of merchants accepting digital payments through QR codes had increased by 300% over the past year.

According to the briefing, the number of merchants receiving digital payments rose significantly between June 2025 and June 2026, reaching two million businesses across the country.

Prime Minister Shehbaz also highlighted the strong growth in digital banking adoption.

Officials informed the meeting that the number of mobile banking application users increased from 95 million to 137 million within a year, describing the expansion as a major milestone in Pakistan’s digital financial transformation.

The meeting was further told that 11.9 billion digital transactions were recorded between July 2025 and June 2026, demonstrating the growing acceptance of digital payment platforms by consumers and businesses.

Banks Urged to Accelerate Digital Financial Services

The prime minister urged commercial banks and financial institutions to play a more proactive role in promoting digital financial services and accelerating the country’s transition toward a cashless economy.

He emphasised that collaboration between the public and private sectors would be essential for achieving the government’s digitalisation targets.

The meeting also reviewed progress in digitising social welfare payments under the Benazir Income Support Programme (BISP).

Prime Minister Shehbaz welcomed the complete transition of BISP payments to digital platforms, calling the system more transparent, efficient and convenient for beneficiaries.

Officials informed him that payments to approximately 10 million BISP beneficiaries are now being made through digital wallets, reducing reliance on cash distribution and improving financial inclusion.

The briefing also highlighted significant progress made by the National Database and Registration Authority (Nadra) in digitising its payment system.

According to officials, 99% of Nadra’s payments are now processed digitally, while the share of cash payments has declined sharply from 71% to just 1%.

Raast Expansion and Further Reforms Underway

The meeting was informed that an independent third-party assessment of Pakistan’s progress toward becoming a cashless economy is currently underway.

The final validation report, along with recommendations for further reforms, is expected to be submitted to the government in November.

Officials also briefed the prime minister on efforts being undertaken by the Pakistan Banking Association (PBA).

The association has assigned digital payment targets to member banks, including wider adoption of the Raast instant payment system, which serves as Pakistan’s national digital payment platform.

The meeting was attended by Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Khan Cheema, Information Technology Minister Shaza Fatima Khawaja, Petroleum Minister Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, State Bank of Pakistan Governor Jameel Ahmad, Nadra Chairman Lt Gen Muhammad Munir Afsar, and senior officials from relevant ministries and institutions.

Pakistan Continues Its Transition Toward a Cashless Economy

The government’s digital payments initiative began gaining momentum after Prime Minister Shehbaz established a high-level committee in June last year to develop and oversee reforms aimed at reducing cash transactions across the economy.

Since then, authorities have focused on expanding digital infrastructure, increasing financial inclusion, promoting QR code-based payments, strengthening the Raast payment network and digitising government services.