Prime Minister Shehbaz Sharif said Pakistan’s transition to a cashless economy will promote sustainable economic growth, improve transparency, and enhance financial efficiency. Chairing a high-level meeting in Islamabad, he praised the government’s progress in expanding digital payments across the country. The initiative is expected to benefit millions of consumers, businesses, and welfare recipients while strengthening […]
digital payments
55% of Pakistanis report financial scam experiences
A new consumer study has revealed that financial scams remain a major concern in Pakistan, with 55% of respondents reporting that they experienced fraud during the past year. At the same time, digital shopping habits continue to evolve rapidly, as 82% of consumers said they now use artificial intelligence tools to support their online purchasing […]
Normal passports to be issued in 14 days
The federal government has announced a reduction in the processing time for normal passports, cutting the issuance period from 21 days to 14 days as part of efforts to improve public services. Read More: Torkham border reopens after 27 days of closure, easing travel The decision was made during a meeting chaired by Interior Minister Mohsin Naqvi […]
Pakistan accelerates shift toward digital cashless economy vision
Shaza Fatima Khawaja said Pakistan is steadily moving toward a digital and cashless economy under the vision of Shehbaz Sharif. Speaking at the Pakistan-EU Business Forum, she highlighted the growing importance of digital technology in transforming economic activity and improving access to services across the country. According to the minister, strengthening digital systems will help […]
Government plans PM Eid Gift Program 2026 for citizens
ISLAMABAD — The federal government of Pakistan is reportedly set to introduce the “PM Eid Gift Program for Every Pakistani 2026” to provide financial assistance to citizens ahead of Eid celebrations. The program aims to ease the financial burden faced by families due to rising inflation and increasing household expenses. Read More: Nuclear programme a great gift of ZAB: […]
Political Economy of Digital Payments in Pakistan
Pakistan has spent more than Rs. 3.5 billion to build the infrastructure for QR-based digital payments, yet fewer than 5 per cent of citizens have ever used a digital method to pay a merchant, according to industry estimates. On paper, the country possesses the essential rails. The instant payment system launched by the State Bank […]
Lesco ends post offices bill payments from April
LAHORE: Lahore Electric Supply Company (Lesco) has announced that electricity bill payments through post offices will be discontinued from April 1, 2026, as part of efforts to modernise billing services and streamline customer transactions. Read More: LESCO to purchase 150,000 smart power meters for consumers In a public advisory, the utility urged consumers to use alternative […]
SBP launches Cyber Shield to boost banking security
KARACHI: The State Bank of Pakistan (SBP) has launched “Cyber Shield”, a comprehensive cyber resilience strategy aimed at strengthening the country’s financial sector against rising cyber threats and aligning protections with global best practices. Read More: SBP governor flags rising cyber risks to banking sector Announced under the central bank’s Vision 2028 agenda, the initiative sets a phased […]
Klarna enters crypto race with new stablecoin launch
Swedish fintech giant Klarna has announced the launch of its first-ever cryptocurrency, marking a major step into digital finance as the company prepares to roll out new crypto-focused partnerships in the coming weeks. Klarna CEO Sebastian Siemiatkowski said the firm’s stablecoin, KlarnaUSD, arrives at a time when crypto technology has become fast, secure, and scalable, […]
Pakistan’s digital payments hit record growth despite user frustrations
ISLAMABAD: Pakistan’s digital payments ecosystem continues to expand at a rapid pace, with over 123 million registered users across mobile, internet, branchless, and other wallets as of FY25, representing more than half of the country’s deposit-taking accounts. Mobile banking emerged as a key driver, processing Rs83.2 trillion in transactions during FY25—an 80 percent increase from […]