Visa discusses digitising govt payments

Talks cover IMF reforms, digital infrastructure and financial inclusion

ISLAMABAD:

Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday held a meeting with a Visa delegation led by Tareq Muhmood, Regional President for Central Europe, Middle East and Africa, to discuss advancing digital payments, financial inclusion and ongoing economic reforms in Pakistan.

Aurangzeb appreciated Visa's continued engagement with Pakistan's financial sector. The discussion focused on improving macroeconomic indicators, ongoing economic stabilisation efforts and the government's priorities for achieving sustainable and inclusive growth, according to a news release.

Aurangzeb briefed the delegation on progress under the International Monetary Fund (IMF)-supported programme, external validation from international credit rating agencies and the government's reform agenda. He outlined reforms covering taxation, the energy sector, state-owned enterprises, public debt management and privatisation, including recent steps taken to accelerate the privatisation process.

Both sides exchanged views on accelerating Pakistan's digital transformation, with particular emphasis on strengthening digital infrastructure, payment systems and the digitisation of government payments. Aurangzeb said digitalisation is being led at the highest level by the prime minister to ensure coordinated and cross-government implementation.

He highlighted initiatives including the establishment of the Pakistan Digital Authority, reforms in payment rails under the State Bank of Pakistan and efforts to digitise government receipts and expenditures.