PM Shehbaz directs full digitisation of overseas remittances

Prime Minister Shehbaz Sharif on Tuesday directed authorities to ensure all overseas remittances are processed through digital channels as part of the government’s broader push towards a cashless economy, saying the transition would promote sustainable economic growth and improve transparency, according to the Prime Minister’s Office (PMO).

Chairing a meeting on promoting digital payments and a cashless economy, the prime minister also instructed banks and financial institutions to play a greater role in expanding digital payments and praised his economic team for the progress made over the past year in advancing Pakistan’s digital economy.

Officials told the meeting that 92% of overseas remittances received between July 2025 and June 2026 had already been transferred through digital channels. During the same period, Pakistan recorded 11.9 billion digital transactions, while the number of mobile banking application users increased from 95 million to 137 million.

PM Shehbaz described the growth in mobile banking users as “a significant achievement” and directed authorities to fully digitise remittance flows from abroad, the statement said.

The prime minister also commended efforts to expand QR code-based payments, noting that the number of merchants accepting digital payments had increased by 300% over the past year. He instructed authorities to intensify public awareness campaigns to encourage wider adoption of QR code payments.

According to the briefing, the number of merchants accepting digital payments rose to 2.003 million between June 2025 and June 2026. Officials said 99% of National Database and Registration Authority payments had been digitised, while cash transactions had declined from 71% to just 1%.

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PM Shehbaz also praised the transition of payments under the Benazir Income Support Programme (BISP) to digital wallets, saying the move had made disbursements “more transparent, faster and easier for beneficiaries”, the PMO said.

Officials informed the meeting that all payments to 10 million BISP beneficiaries were now being made through digital wallets.

According to the PMO, a third-party validation of the cashless economy initiative is under way, with a final report and recommendations expected in November 2026.

Officials also said the Pakistan Banks’ Association had assigned targets to member banks to expand digital payments, including through the Raast instant payment system.