ISLAMABAD: Minister of State for IT and Telecommunication Shaza Fatima Khawaja said that the present government is committed to transform Pakistan into a cashless economy.

She said that the government aims to reduce reliance on physical currency and promote digital transactions through initiative like the State Bank of Pakistan (SBP)'s RAAST instant payment system.

Speaking at a meeting of a high-level Committee on Promotion of Cashless Economy, Khawaja said that digital payments have critical role in driving economic growth and efficiency.

She said that steps are needed to accelerating digital financial inclusion and boosting economic growth.

The Minister of State for IT also emphasised the importance of data integration and effective change management. "While there is significant progress in digitalization across government agencies, we need to breakdown silos and create a unified data platform. This will enable better decision-making and improved service delivery," she stated.

The Committee on Promotion of Cashless Economy, formed on the direction of the prime minister of, is chaired by Minister of State for Finance and Revenue Ali Pervaiz Malik. Minister of State for IT and Telecommunication Fatima Khawaja is the part of the committee.

The committee comprises key stakeholders from both the public and private sectors, including the Ministry of IT, SBP, Federal Board of Revenue, Controller General of Accounts, all provincial governments, Telecom Operators Association, Pakistan Banks Association, Fintech Association of Pakistan, and leading industry players such as Jazz, Karandaaz, and NayaPay.

Copyright Business Recorder, 2024