Digital transactions are essential for increasing economic transparency: PM
According to Prime Minister Shehbaz Sharif, increasing economic transparency requires a digital transaction system.
He emphasized that it is urgently necessary to streamline payments between individuals and businesses and to increase awareness of the use of digital systems while chairing a weekly meeting on the cashless and digital economy in Islamabad on Thursday.
He instructed the cashless economy committees to collaborate with all parties involved in order to provide useful and feasible recommendations.
In order to encourage digital transactions, the State Bank of Pakistan is developing a plan to streamline and ease traders’ use of digital payment methods, the meeting was informed.
A streamlined package will be unveiled to promote and involve small businesses in digital payments, it was announced.
The goal is to raise the number of people using digital payments through mobile applications from 95 million to 120 million. It is anticipated that the total amount of digital payments will increase from Rs 7.5 billion to Rs 12 billion.
The prime minister gave the order to double all of these goals.
The meeting was informed that there are also initiatives in place to offer Wi-Fi internet access throughout Islamabad, specifically in government offices, parks, hospitals, schools, and metro bus lines.
