Punjab reviews cashless strategy implementation

Officials stress on awareness, incentives for smooth launch

LAHORE:

The Punjab government on Thursday held the first meeting of the committee formed to implement the Prime Minister's Cashless Strategy, focusing on introducing a QR code payment system for retailers.

The meeting, held at the Civil Secretariat Lahore, was co-chaired by Punjab Finance Minister Mian Mujtaba Shujaur Rehman and Minister for Local Government and Community Development Zeeshan Rafiq. Additional Chief Secretary Ahmed Raza Sarwar, Chairman Punjab Board of Investment & Trade (PBIT), and senior officials from relevant departments also attended.

Briefing the committee, the additional chief secretary said legislation is being finalized at the federal level to support nationwide implementation of the strategy.

At the provincial level, Punjab has been tasked with preparing proposals for a QR-based retail payment system, which will be presented to the provincial cabinet before being shared with the federal government.

During the session, departmental proposals were reviewed, and it was agreed that small businesses should receive special relief to ensure a smooth transition into the cashless system.

Finance Minister Shujaur Rehman termed the initiative "a vital step towards a documented economy ensuring transparency in financial transactions."

He said businesses would be divided into three categories, with small enterprises given more time to adapt.

"The system will be rolled out gradually to facilitate the trading community and ensure ease of doing business," he added.

Local Government Minister Zeeshan Rafiq emphasised the need to simplify procedures for retailers, noting that training and incentives would be introduced to encourage adoption.

The PBIT Chairman highlighted the importance of awareness campaigns before implementation, stressing that training retailers and providing QR codes online would make the process easier and more effective.