Govt halts National Digital Wallet project

IT Ministry deems cashless economy initiative infeasible

The government has decided to halt the establishment of the National Digital Wallet, a project by the National Database and Registration Authority (NADRA) aimed at promoting a cashless economy. 

According to a news report, this decision follows an assessment by the Ministry of Information Technology and Telecommunication, which deemed the proposal unfeasible.

Prime Minister Shehbaz Sharif was briefed on the issue in a recent meeting. The IT ministry’s feasibility study, requested by the Special Investment Facilitation Council (SIFC), concluded that the project could not be pursued further.

The plan for the National Digital Wallet involved linking 1% of electricity, gas, and fuel bills to digital rewards, encouraging consumers to transition to cashless transactions. However, the IT ministry’s findings led to the shelving of the project.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Competition tribunal affirms penalty on Reliance Paints for price fixing

ISLAMABAD: The Competition Appellate Tribunal has upheld the decision of the Competition Commission of Pakistan (CCP) against M/s Reliance Paints Pakistan for fixing the...