Digital transactions key to bringing transparency to economy: PM
Pakistan
PM also directed that committees established for cashless economy should work hard
ISLAMABAD (Web Desk) - Prime Minister Shehbaz Sharif said that a digital transaction system is essential for bringing transparency to the economy.
Chairing a weekly meeting on the cashless and digital economy in Islamabad on Thursday, he emphasised that it is a pressing need of the time to simplify payments between citizens and businesses and to raise awareness about the use of digital systems.
He directed that the committees established for the cashless economy should work in collaboration with all stakeholders to present practical and actionable proposals.
The meeting was informed that the State Bank of Pakistan is formulating a strategy to simplify and facilitate digital payment methods for traders in order to promote digital transactions.
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It was informed that a simplified package will be introduced to encourage and include small businesses in digital payments.
The target is to increase the number of mobile application users for digital payments from Rs 95 million to Rs 120 million. The overall volume of digital payments is expected to rise from Rs 7.5 billion to Rs 12 billion.
The Prime Minister directed that all these targets should be doubled.
The meeting was informed that efforts are also underway to provide Wi-Fi internet access across Islamabad particularly in hospitals, educational institutions, government offices, parks and metro bus lines.
