The government has announced that the Benazir Income Support Programme (BISP) digital wallets will become fully operational by the end of November, marking a major step toward Pakistan’s transition to a cashless economy. The next round of beneficiary payments will be disbursed digitally through these wallets.
The announcement was made during a high-level review meeting on cashless economy initiatives, chaired by Prime Minister Shehbaz Sharif. Pakistan’s Prime Minister repeatedly emphasized that digitization of economy is crucial to eliminating the informal means of economic activity and achieving sustainable economic growth model.
BISP is a globally recognized successful conditional cash transfer social welfare initiative started by PPP government and carry forward by the successive governments.
Under the initaitbe of BISP, the meeting was brefied that about the development of 10 million digital wallets are underway aimed at expanding financial inclusion, particularly in rural communities.
The Prime Minister directed authorities to increase awareness campaigns to help people adopt digital payments.
Integration of Raast QR code system
Private banking system has long integrated their digital platforms with utility bill payments and now Raast QR code system can also be used to pay that electricity and gas bill payments.
Raast QR code system integration has already facilitated billions of rupees in transactions, reflecting the growing adoption of digital finance tools.
Additionally, a mobile application for Islamabad’s government services links to the Raast payment platform, enabling digital payments for official services provided by the federal government.
All new business licenses in the capital now tie to digital payment systems, while existing shops including retail shops, accept QR code payments.
The Prime Minister learned that 68% of Pakistan’s population is now financially included, which shows strong progress by Pakistan toward digital financial access.
He instructed ministries to meet cashless economy targets within the set time frame, noting that digital reforms will improve governance, reduce corruption, and enhance transparency.
Finance Minister Muhammad Aurangzeb, IT Minister Shaza Fatima Khawaja, and State Bank Governor Jameel Ahmad were among the officials attending the meeting.
