Govt Committed To Transform Pakistan Into Cashless Economy: Shaza Fatima

Minister of State for IT and Telecommunication Shaza Fatima Khawaja Thursday said that the present government was committed to transform Pakistan into cashless economy

ISLAMABAD, (UrduPoint / Pakistan Point News - 8th Aug, 2024) Minister of State for IT and Telecommunication Shaza Fatima Khawaja Thursday said that the present government was committed to transform Pakistan into cashless economy. She said that the government aimed to reduce reliance on physical currency and promote digital transactions through initiative like the SBP's RAAST instant payment system.

Speaking at a meeting of a high-level Committee on Promotion of Cashless Economy, Shaza Fatima said that digital payments have critical role in driving economic growth and efficiency, said a news release.

She said that steps were needed to accelerating digital financial inclusion and boosting economic growth.

The state minister also emphasized the importance of data integration and effective change management. "While there is significant progress in digitalization across government agencies, we need to breakdown silos and create a unified data platform.

This will enable better decision-making and improved service delivery, " she stated.

A Committee on Promotion of Cashless Economy, under the chairmanship of Minister of State for Finance and Revenue Ali Pervaiz Malik has been formed on the directives of the Prime Minister of Pakistan, with Shaza Fatima Khawaja as its member.

The Committee comprises key stakeholders from both public and private sectors, including the Ministry of IT, State Bank of Pakistan (SBP), Federal Board of Revenue, Controller General of Accounts, all provincial governments, Telecom Operators Association, Pakistan Banks Association, Fintech Association of Pakistan and leading industry players such as Jazz, Karandaaz and Naypay.