PM seeks roadmap for cashless economy

ISLAMABAD:

Prime Minister Shehbaz Sharif on Saturday directed the relevant authorities to prepare a clear roadmap, with specific timelines and targets, for establishing a fully digital payment system across the country as the government steps up efforts to promote a cashless economy.

Chairing a high-level meeting in Islamabad to review progress on the government's cashless economy initiative, the prime minister said promoting digital payments was among the government's top priorities, adding that positive results had started to emerge.

According to a statement issued by the Prime Minister's Office (PMO) on X, Shehbaz called for ensuring nationwide internet connectivity and easy public access to technology to facilitate the transition.

He also directed the authorities to address customer complaints arising from the use of digital payment services without delay.

The prime minister called for promoting digital transactions between consumers and merchants through the government's Raast QR Code initiative, saying it was helping advance the vision of a cashless economy.

He also instructed the authorities to launch an effective media campaign encouraging electricity and gas consumers to pay their utility bills through QR codes printed on their bills. All ministries and government departments were directed to ensure the full implementation of the cashless economy plan.

 

TDAP

Prime Minister Shehbaz Sharif approved to modernise the Trade Development Authority of Pakistan to boost country's exports, enhance the access of local products to global markets, and align local industries, including Small and Medium Enterprises (SMEs), with export standards.

The prime minister, chairing a high-level meeting, said that a modernised TDAP would pave the way for achieving access to global markets for manufactured industrial products with a view to boosting exports.

He directed that a complete ecosystem, including the entire value chain, be established for agricultural product exports and that highly trained human resources be inducted in the Authority through a transparent, merit-based process.

Calling for linking professional growth to performance and target achievement, he directed the hiring of a reputable private audit firm to conduct performance and financial audits of the Authority.

The prime minister said that Pakistan possessed vast export potential and an ideal geographic location and that the incumbent government was facilitating industries and SMEs to fully capitalise on these advantages to increase exports.

During the meeting, the officials briefed the prime minister on the authority's existing setup and key challenges. A comparative analysis of effective international Trade Promotion Organisations (TPOs) was presented, demonstrating how modern institutions provide integrated services for local market development, global market access, exporter capacity building, and trade expansion.

A comprehensive reform package was presented to transform TDAP into a world-class trade promotion organisation responsive to modern needs. The proposals include streamlining the authority's mandate to eight core functions, restructuring the board and management, optimising the regional network, adopting digital platforms and Artificial Intelligence (AI), and implementing measurable performance indicators alongside independent third-party evaluations.

A phased 12-month implementation roadmap comprising approval, design, execution, and independent assessment was also submitted. The prime minister directed that the reforms be completed and fully operationalised by the middle of next year.