Islamabad:
State Bank of Pakistan (SBP) has announced that in June 2026, all federal and provincial government payments will be fully digitized.
At present, two banks in the country have already launched digital banking services, and the number of digital merchants is expected to rise to two million within a year.
These details appeared during a meeting of the National Assembly’s Standing Committee for Funding, which was held on Thursday at the House of Parliament under the presidency of MNA Syed Naveed Qamar. The Committee also reviewed the Corporate Social Responsibility (CSR) proposal.
Briefing of the committee said the SBP vice governor that the central bank is taking action to promote digital payments. He said in December 2026 that all state payments, including state -owned companies (SOEs), will be fully digitized.
At present, two banks have begun to offer digital banking services. Prime Minister for Financing Bilal Azhar Kayani added that Mashreq Bank had launched digital banking in record time and employed 400 employees who were deployed over 19 cities, while services would be available nationwide.
The SBP official further informed the committee that there are currently over 5,000 digital merchants in the country. A committee set up by Prime Minister Shehbaz Sharif has set a goal to increase this figure to two million within a year with the aim of promoting digital transactions throughout Pakistan.
Digital payments for consumers are free, while Interbank Fund -Transfers have only one fee for transactions of RS25,000; However, payments through Raast remain free.
He noted that RS3.5 billion value of trade payment schemes is financed directly by the government and that accounts can now be opened digitally 24/7.
The session also examined the CSR bill. Chairman Naveed Qamar noted that the committee is seeking an intermediate plot in the case. Securities and Exchange Commission of Pakistan (SECP) chairman informed the committee that out of 447 companies, 315 engaged in CSR activities in 2024.
About 116 companies spent RS22 billion on CSR, 199 companies could not provide details of their CSR expenses, and 100 companies did not spend anything on CSR.
He clarified that CSR is not mandatory. However, when the Bill has been passed, however, companies could be obliged to disclose CSR expenses with sanctions of up to RS1 billion for non-disclosure.
PPP legislator Hina Rabbani Khar raised concern that oil refineries in Muzaffargarh are polluting the area, while CSR funds are used in the capital instead.
