Federal Minister for Finance, Senator Muhammad Aurangzeb, chaired a high-level meeting today at the Finance Division focused on advancing Pakistan\u2019s transition toward a digital and less cash-dependent economy. The session brought together key stakeholders from the financial sector, including commercial banks, development finance institutions (DFIs), regulators, and investment experts.<\/p>\n
The participants, forming the core of a special committee established by the minister, engaged in a comprehensive discussion on actionable strategies to foster greater adoption of digital payments and reduce reliance on cash in daily transactions. The committee reached consensus on a series of recommendations aimed at expanding access to digital financial services and promoting interoperability among payment platforms, particularly through the Raast instant payment system<\/a>.<\/p>\n A central theme of the discussions was the need to ensure digital payment options are widely accessible across retail<\/a>, service, and public sectors. The committee emphasized the importance of creating a level playing field between cash and digital transactions by rebalancing incentive structures to make digital payments more attractive and cost-effective for both consumers and businesses.<\/p>\n Improving the cost structure of digital payment infrastructure<\/a>, including merchant acquisition and service delivery\u2014especially for small merchants and underserved communities\u2014was identified as a critical priority to enable broader financial inclusion.<\/p>\n