Prime Minister Shehbaz Sharif on Tuesday directed authorities to process all overseas remittances through digital channels. He said the move would accelerate Pakistan’s shift toward a cashless economy and improve financial transparency.
Chairing a meeting on digital payments, the prime minister praised his economic team for expanding digital financial services over the past year.
He also urged authorities to launch stronger awareness campaigns. The campaigns will encourage more merchants to adopt QR code based digital payments.
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The prime minister asked banks and financial institutions to play a bigger role in expanding digital transactions across the country.
He also welcomed the digitalisation of Benazir Income Support Programme (BISP) payments. He described the new system as faster, more transparent and more convenient for beneficiaries.
Digital payments record strong growth
Officials briefed the meeting on Pakistan’s recent progress.
Between June 2025 and June 2026, the number of merchants accepting digital payments rose 300 percent to 2.003 million.
Officials also reported that 99 percent of NADRA payments now take place through digital channels. Cash payments dropped sharply from 71 percent to just 1 percent.
The government now sends payments to 10 million BISP beneficiaries through digital wallets.
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Mobile banking also continued to expand rapidly. The number of users increased from 95 million to 137 million within a year.
The prime minister called the increase a major achievement.
Pakistan also recorded 11.9 billion digital transactions between July 2025 and June 2026, showing growing public confidence in digital banking.
Digital remittances become a national priority
Officials told the meeting that 92 percent of overseas remittances already arrive through digital channels.
Prime Minister Shehbaz Sharif instructed authorities to increase that figure to 100 percent. He said digital remittances would strengthen transparency and improve financial efficiency.
Workers’ remittances remain one of Pakistan’s largest sources of foreign exchange. The country recently received a record $41.6 billion in remittances during FY2025-26, boosting foreign exchange reserves and supporting the economy.
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Officials also informed the meeting that an independent organisation is validating the government’s cashless economy initiative. It will submit its final report with recommendations in November 2026.
Meanwhile, the Pakistan Banks’ Association has assigned digital payment targets to member banks. The targets include wider adoption of the Raast instant payment system, which supports fast and secure digital transfers.
Federal ministers Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Shaza Fatima Khawaja, Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, State Bank Governor Jameel Ahmad, the NADRA chairman and senior officials attended the meeting.
