Prime Minister Shehbaz Sharif has directed authorities to speed up Pakistan’s transition toward a cashless economy by expanding digital payment systems and increasing the role of banks and financial institutions. Chairing a high-level meeting, he said a cashless economy is essential for sustainable growth, financial transparency and building a modern financial system.

During the meeting, the prime minister reviewed progress on digital payment initiatives and urged banks to actively encourage wider use of digital financial services across the country. He said greater reliance on electronic transactions would strengthen economic activity, improve documentation and increase transparency throughout the financial system.

To modernise international transactions, Shehbaz instructed relevant authorities to ensure all foreign remittances are processed through fully digital channels. The government expects this step to make overseas money transfers faster, safer and more transparent while supporting Pakistan’s broader digitalisation agenda and reducing dependence on cash-based transactions.

The prime minister highlighted strong growth in digital payment adoption during the past year and praised the economic team for its progress. He said the number of active merchants using QR codes has increased by 300 percent, while mobile banking application users have risen from 95 million to 137 million.

Shehbaz also stressed the importance of public participation in building a transparent and documented economy through digital payments and banking services. He directed authorities to launch stronger awareness campaigns explaining the convenience, security and benefits of electronic transactions so more citizens can confidently adopt modern financial tools.