ISLAMABAD: Pakistan’s Cashless Pakistan initiative has recorded significant progress during its first year, with active merchants accepting digital payments increasing fourfold to more than two million. The achievements emerged during a progress review chaired by Minister of State for Railways and Finance Bilal Azhar Kayani. Moreover, officials highlighted strong growth in digital transactions and financial inclusion.
Digital Payments See Rapid Expansion
The high-level meeting at the Finance Division reviewed the initiative launched in June 2025 under the prime minister’s supervision. The program aims to improve public convenience, enhance transparency, and build a more documented economy through digital payments.
Officials reported that annual digital transactions increased from 6.9 billion to 11.3 billion. Meanwhile, the number of digital banking users surpassed 135 million. The government also credited the Raast QR Code initiative for driving the sharp rise in merchants accepting digital payments across the country.
In addition, financial inclusion reached 69 percent. Authorities also continued targeted efforts to reduce the gender gap by expanding access to digital financial services.
Government Pushes Public Sector Digitization
Kayani reviewed progress on digitizing public sector institutions through the Raast payment system. He said authorities have identified 25 high-impact federal and provincial entities for complete digitization by December 2026. Furthermore, nearly 75 percent of government-to-person payment acceptance has already shifted to digital platforms across centralized and self-accounting organizations.
The minister instructed officials to verify reported achievements, address reporting gaps, and remove duplicate data to ensure transparency. He also noted that the government has appointed an independent third party to evaluate the initiative’s overall performance.
Finally, Kayani reaffirmed the government’s commitment to working with regulators, financial institutions, fintech companies, and private sector partners. He said the collaboration will expand digital payments, strengthen financial inclusion, and support a transparent, efficient, and fully documented economy across Pakistan.
