PM Sharif forms committee to promote cashless economy

ISLAMABAD: Prime Minister Shehbaz Sharif has formed a high-level committee to promote a cashless economy and accelerate digitization, which will be chaired by the prime minister himself.

The committee will review the steps taken for digitization of the economy and promotion of a cashless economy in its weekly meeting.

The decision in this regard was taken during a review meeting held to discuss steps taken to eliminate the informal economy, promote transparency, and move towards a cashless and digital economy.

The prime minister said that digitization of the economy is among the top priorities of the government’s reforms.

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He said digital payments and digital transfer of funds should be encouraged through policy measures proposed in the federal budget to promote a cashless economy.

Prime Minister Sharif said transparent, effective, and efficient transfer of money from digital wallets to the beneficiaries was ensured during Ramzan.

He said due to improvement in Pakistan’s economy, the inflation rate has reduced and remittances have increased.

The prime minister further said the boom in the stock market reflects investors’ confidence in the government’s policies.