KARACHI: Pakistan’s government is eyeing increasing the country’s annual digital transactions from 7.5 billion to 15 billion by June 2026, Adviser to the Finance Minister Khurram Schehzad said this week amid Islamabad’s push to promote a cashless economy.
Pakistan is a cash-dominated market where a significant portion of transactions, particularly in the informal sector, are conducted in cash. Officials say many of these transactions are aimed at avoiding taxes and promoting corruption.
Speaking at the 5th Pakistan Future of Retail Business Summit and Expo held in Karachi on Wednesday, Schehzad said the government’s Cashless Pakistan Initiative aimed to enhance accountability.
“Highlighting the key targets of the initiative, Schehzad said the number of monthly active Raast QR merchants will increase from 500,000 to 2 million by June 2026, annual digital transactions will double from 7.5 billion to 15 billion by the same period,” the Press Information Department (PID) said.
He said Islamabad also aimed to digitize 100 percent of government payments by December 2026, noting that a large share of transactions in Pakistan still involve cash.
