Islamabad set to become Pakistan’s first fully cashless city

Islamabad set to become Pakistan’s first fully cashless city

The federal government has decided to transform Islamabad into Pakistan’s first fully cashless city as part of its efforts to promote digital payments, improve financial transparency and modernise the financial transaction system.

A meeting on the proposed Cashless Islamabad initiative was held under the chairmanship of Minister of State for Interior Talal Chaudhry. The meeting was attended by the chairman of the Capital Development Authority (CDA), representatives of the banking sector and other relevant officials.

During the meeting, banking sector representatives assured the government of their full cooperation in implementing the initiative and ensuring its success.

Speaking on the occasion, Talal Chaudhry said consultation with all stakeholders and their recommendations were essential for the successful implementation of the project. He added that work on the initiative was progressing rapidly on the directives of the prime minister and the interior minister.

The minister announced that cash payments would no longer be accepted at any department of the Islamabad Capital Territory (ICT) administration or the CDA after November 30. He further said the government had set December 31 as the deadline for bringing all merchants operating in Islamabad into the digital payment system.

Chaudhry said the transition to a cashless economy would help ensure greater financial transparency, strengthen tax monitoring and improve the overall system of financial transactions.

He revealed that around 26,000 merchants in Islamabad had already been connected to digital payment services, reflecting progress towards the proposed transformation.

The initiative will extend digital payment facilities to businesses of all sizes, ranging from street vendors and small retailers to major commercial establishments, enabling residents to make payments electronically instead of relying on cash.

The government aims to expand digital payment infrastructure across the capital and encourage wider adoption of cashless transactions among businesses and the general public.