Latest news with #DigitalEconomyProject
Business Recorder
16 hours ago
- Business
- Business Recorder
Govt pushes for cashless economy
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday issued a bold directive to double national targets for digital payments, signalling a determined push to fast-track country's shift towards a cashless economy. The prime minister while chairing a weekly meeting on the digital and cashless economy, underscored digital transactions as crucial to enhancing economic transparency. He stressed the urgent need to boost public awareness and streamline payment systems for both citizens and businesses. Digital payments should be made easier than cash: PM Shehbaz Briefing the prime minister, officials revealed plans to increase mobile app users making digital payments from 95 million to 120 million, while QR code-enabled merchants are set to rise from 900,000 to 2 million. The volume of digital transactions, currently at Rs7.5 billion, is expected to soar to Rs12 billion but Sharif demanded these figures be doubled. The meeting also confirmed the formal establishment of three key committees tasked with driving digital transformation: the Digital Payments Innovation and Adoption Committee, the Digital Public Infrastructure Committee, and the Government Payments Committee. Each presented comprehensive strategies aimed at accelerating digitisation across the economy. Officials informed the meeting that the State Bank of Pakistan (SBP) is crafting a strategy to simplify digital payments for traders, including plans to roll out a user-friendly package to attract small businesses. As part of the wider 'Digital National Pakistan' initiative, a Digital Economy Project has been launched, aiming to lay the groundwork for a modern, tech-driven economic landscape. Meanwhile, the Islamabad City App, which offers 15 public services, has already been downloaded 1.3 million times, generating Rs15.5 billion for the Islamabad Capital Territory's Excise and Taxation Department. Work is progressing on the Digital Pakistan ID Project and the introduction of e-stamping services in the capital. Efforts to provide free Wi-Fi in hospitals, schools, government offices, parks, and along Metro Bus routes are underway, with directives to expand these facilities across Azad Jammu and Kashmir, and Gilgit-Baltistan. The meeting was attended by federal ministers and senior officials, including IT Minister Shaza Fatima Khawaja, Petroleum Minister Ali Pervaiz Malik, State Minister for Finance Bilal Kayani, and the PM's Advisor Dr Tauqir Shah. Copyright Business Recorder, 2025
Business Recorder
a day ago
- Business
- Business Recorder
SBP plans to ease digital payment mechanisms for traders
In a bid to promote cashless payments, the State Bank of Pakistan (SBP) is formulating a strategy to simplify digital payment methods for traders. This was revealed during a weekly meeting on cashless and digital economy held on Thursday, read a statement released by the Prime Minister's Office (PMO). In a briefing to the prime minister, it was stated that the Digital Payments Innovation and Adoption Committee, the Digital Public Infrastructure Committee, and the Government Payments Committee, formed during the previous meeting, have now been constituted. During the meeting, these committees gave a presentation on their strategies and proposals for digitising the economy. Pakistan's e-commerce sector faces operational costs surge amid new taxes 'A digital transaction system is essential to bring transparency to the economy,' said PM Shehbaz. The prime minister was informed that a facilitation package will be introduced to encourage the participation of small businesses in digital transactions. It was learnt that the government intends to increase the number of mobile app users for digital payments from 95 million to 120 million, raise the number of merchants using QR codes from 0.9 million to 2 million, and expand total digital payments from Rs7.5 billion to Rs12 billion. It was also shared that the Digital Economy Project under the vision of Digital National Pakistan has been launched. The Islamabad City mobile app has so far recorded 1.3 million downloads and currently offers 15 services. Through the app, collections under the ICT Excise and Taxation head have reached Rs15.5 billion. It was told in the briefing that work on the Digital Pakistan ID project is progressing swiftly. Additionally, efforts are underway to provide Wi-Fi internet services throughout Islamabad, especially in hospitals, educational institutions, government offices, parks, and along metro bus lines. The prime minister ordered that all these facilities be introduced across federal territories, Azad Jammu & Kashmir, and Gilgit-Baltistan as well, read the statement.
Express Tribune
10-03-2025
- Business
- Express Tribune
Dematerialised digital identity card launched
NADRA has announced the launch of Pakistan's first "dematerialised digital identity card" during its Silver Jubilee ceremony on Monday. In his message, Federal Minister for Interior and Narcotics Control, Mohsin Raza Naqvi, termed the launch of Pakistan's first dematerialised digital identity card as a significant step toward digital identity transformation. He announced that after integrating this feature into the Pak ID mobile app, citizens will be able to store their identity cards on their smartphones. Additionally, a digital verification system will be introduced soon, facilitating secure and instant verification for various services under the World Bank-backed Digital Economy Project.
