PM Shehbaz orders full digitalisation of overseas remittances

Prime Minister Shehbaz Sharif has directed authorities to ensure that all overseas remittances are processed through digital channels as part of efforts to promote a cashless economy in Pakistan.

Chairing a meeting on digital payments and financial reforms, the prime minister said the shift towards digital transactions would improve transparency, reduce reliance on cash, and support sustainable economic growth.

The Prime Minister’s Office said that significant progress had been made in expanding digital financial services across the country. Officials informed the meeting that 92 per cent of overseas remittances received between July 2025 and June 2026 were already being transferred through digital channels.

During the same period, Pakistan recorded 11.9 billion digital transactions, while the number of mobile banking users increased from 95 million to 137 million.

Prime Minister Shehbaz praised the growth of digital banking and called it an important step towards modernising the country’s financial system. He directed banks and financial institutions to play a stronger role in expanding digital payment services.

The prime minister also highlighted the rapid growth of QR code-based payments. He said more efforts were needed to create public awareness and encourage people and businesses to adopt digital payment methods.

Officials informed the meeting that the number of merchants accepting digital payments had increased significantly, reaching more than two million by June 2026.

The meeting was also informed that 99 per cent of payments made through the National Database and Registration Authority (NADRA) had been digitised, while the share of cash transactions had dropped considerably.

The prime minister appreciated the transition of Benazir Income Support Programme (BISP) payments to digital wallets. He said the system had made financial assistance more transparent, faster, and easier for beneficiaries.

Officials said payments to around 10 million BISP beneficiaries were now being made through digital wallets.

A third-party assessment of the cashless economy initiative is currently underway, with a final report expected later this year.