Prime Minister Shehbaz Sharif stated that the government is focusing on digitizing Pakistan's economy and transitioning financial transactions to a cashless system.
Pakistan is planning to establish digital public infrastructure aimed at issuing digital IDs to all citizens. These IDs will combine national identity cards, biometric data, and mobile numbers to facilitate more efficient electronic payment processes. Shehbaz Sharif who [1] is the Prime Minister of Pakistan has [2] instructed all provincial governments to collaborate with the federal government in extending the State Bank’s Raast digital payment platform to users at the district level. He expressed satisfaction with recent advancements towards a cashless economy, highlighting progress in linking government-to-public and public-to-government payments through Raast.
Pakistan's federal development agencies have approved the right of way to enhance fiber connectivity in support of the rollout of digital IDs. According to Arab News, [3] negotiations are in progress with Pakistan Railways and the National Highway Authority to further expand digital infrastructure, Prime Minister Sharif also emphasized two recent initiatives, the Merchant Onboarding Framework, which mandates that banks and payment providers provide all merchants with Raast-enabled QR codes and point-of-sale terminals, and the creation of the Pakistan Digital Assets Authority to oversee the regulation of emerging blockchain-based financial services. Radio Pakistan broadcaster said, “The meeting was briefed that Pakistan will develop digital public infrastructure to create digital IDs for every citizen, integrating national Identity Cards, biometrics, and mobile numbers. These digital IDs will enable secure and efficient payments. It was further said that the provincial governments have shown significant progress in linking government-to-public and public-to-government payments with the Raast system.”
Pakistan's digital transformation [4] has been praised by the World Economic Forum who claims that the Digital public infrastructure or DPI initiatives in Pakistan are “enabling financial inclusion and empowering citizens.” Pakistan [5] is also in the process of launching a national Agri Stack aimed to digitize the farming sector, subsidies, and markets through the issuance of digital IDs and the integration of these credentials with other records. Shaza Fatima Khawaja who [6] is the Federal IT Minister said, “The Agri Stack will enable verified farmer identities, land data integration, precision advisory, and efficient delivery of services like subsidies, crop insurance, and credit. This is the architecture for an inclusive and tech-driven agricultural transformation under Prime Minister Shehbaz Sharif’s Digital Nation Pakistan, in collaboration with the Special Investment Facilitation Council.”
Muhammad Aurangzeb who [7] is the Federal Minister for Finance and Revenue and [8] a member of the World Economic Forum stated that Pakistan must acknowledge the swift expansion of digital assets. He noted that approximately 15%of the population is already participating in this sector, leading the government to develop a regulatory framework for virtual investment. “When you see 20 to 25 million citizens of this country participating in this activity in one form, shape or the other … you cannot ignore that. I’m very clear that the private sector has to lead this country, and the government just needs to provide the ecosystem.” A draft bill concerning [9] digital investment and virtual assets has been presented to the Senate Standing Committee on Finance and is expected to be forwarded to the National Assembly for approval in the near future.