In a first, capital rolls out cashless payments

On the directives of Prime Minister Shehbaz Sharif, Islamabad has launched a cashless payment system, initially introduced in weekly bazaars through QR code transactions. In the second phase, the initiative will be expanded to all commercial centres, shopping malls, and Class-III markets across the capital.

This was disclosed by CDA Member Finance Tahir Naeem during a briefing held under the chairmanship of Member Administration and Estate. The meeting was attended by representatives of major banks, as well as senior officials from the CDA and Islamabad Capital Territory (ICT) administration.

The participants reviewed steps being taken in line with the Prime Minister's vision to promote a cashless economy in Islamabad. The purpose of the meeting was to devise an integrated roadmap for effective implementation of digital payments across the city.

Briefing the meeting, Member Finance Tahir Naeem said a dashboard had been developed to monitor progress on the cashless system, where different banks are already sharing their data. He added that a comprehensive awareness campaign and promotional strategy were being emphasised to encourage public adoption of digital transactions.

Member Administration and Estate underlined that CDA's role was that of a facilitator, ensuring coordination between banks, traders, and customers. He informed the meeting that a steering committee, comprising CDA, MCI, ICT, and banks, was supervising the rollout of the unified Raast QR code system. He stressed that the ultimate aim was to establish Islamabad as a model digital city in Pakistan.

Tahir Naeem further noted that the QR code system was being rapidly expanded citywide to fully implement the cashless economy.