Digital transactions in Pakistan rise to over 2 million under cashless economy drive

Minister of State for Finance and Railways Bilal Azhar Kayani has said that Pakistan has recorded a significant increase in digital transactions under Prime Minister Shehbaz Sharif’s agenda for a cashless economy.

Bilal Azhar Kayani met with a high-level delegation from the Bill & Melinda Gates Foundation, which included Dr. Kalpana Kochhar, Acting President of the Global Policy and Advocacy Division, and other senior officials.

The meeting discussed Pakistan’s digital transformation, the economic reform agenda, and progress towards a cashless economy.

On the occasion, Bilal Azhar Kayani said that digital transactions in Pakistan had increased significantly under Prime Minister Shehbaz Sharif’s cashless economy agenda.

He said the number of people making digital transactions had risen from 500,000 to more than 2 million, enabling the government to achieve the target set for June 2026. He added that the government would also meet its target of further increasing this number.

The Minister of State said that the government’s subsidy of Rs3.5 billion to promote Raast QR had contributed significantly to increasing the number of people using digital payment systems.

He further said that government reforms were progressing rapidly to improve economic documentation, increase financial inclusion, enhance the transparency of government payments, and improve efficiency.

He noted that these reforms were producing positive results.

The delegation appreciated the government’s reform initiatives and assured that the Gates Foundation would continue to support Cashless Pakistan and the broader economic reform agenda.

It also expressed its commitment to further expanding cooperation through the lottery-based initiative.