Says a cashless economy will increase transparency and sustainable growth, and calls for wider adoption of digital payments
Prime Minister Shehbaz Sharif chairs a review meeting regarding promotion of cashless economy and digital payments. PHOTO: PMO
Prime Minister Shehbaz Sharif on Tuesday directed authorities to ensure that all overseas remittances are processed through digital channels as part of the government’s broader push towards a cashless economy, saying the move would promote sustainable economic growth and improve transparency, according to the Prime Minister’s Office (PMO).
Chairing a meeting on promoting digital payments and a cashless economy, the prime minister also directed banks and financial institutions to play a greater role in expanding digital payments and praised his economic team for the progress made over the past year in promoting Pakistan’s digital economy.
Officials told the meeting that 92% of overseas remittances received between July 2025 and June 2026 had already been transferred through digital channels. During the same period, Pakistan recorded 11.9 billion digital transactions, while the number of mobile banking application users increased from 95 million to 137 million.
Islamabad: February 14, 2026.
Prime Minister Muhammad Shahbaz Sharif’s meeting under the chairmanship of the government was held today in Islamabad.
The prime minister has made progress over the past year in transforming Pakistan’s economy into a digital-based cashless economy… pic.twitter.com/wVII0ESjM4
— Prime Minister’s Office (@PakPMO) July 14, 2026
Prime Minister Shehbaz described the growth in mobile banking users as “a significant achievement” and directed authorities to fully digitize remittances from abroad, the statement said.
The Prime Minister also praised efforts to expand QR code-based payments, noting that the number of merchants accepting digital payments had increased by 300% over the past year. He directed authorities to intensify public awareness campaigns to encourage wider adoption of QR code payments.
According to the briefing, the number of merchants accepting digital payments rose to 2.003 million between June 2025 and June 2026. Officials said 99% of payments made by the National Database and Registration Authority had been digitized, while cash transactions had dropped from 71% to just 1%.
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Prime Minister Shehbaz also praised the transition of payments under the Benazir Income Support Program (BISP) to digital wallets, saying the move had made disbursements “more transparent, faster and easier for the beneficiaries”, the PMO said.
Officials informed the meeting that all payments to 10 million BISP beneficiaries were now being made through digital wallets.
According to the PMO, a third-party validation of the cashless economy initiative is underway, with a final report and recommendations expected in November 2026.
Officials also said that the Pakistan Banks’ Association had assigned targets to member banks to expand digital payments, including through the Raast system for instant payments.
