In a significant move toward a cashless economy, the federal government has decided that all electricity, telephone, and gas bills will feature QR codes, enabling customers to make payments digitally.Â
According to a news report, this decision was made during a high-level meeting chaired by Prime Minister Shehbaz Sharif, attended by representatives from key ministries and organisations.
The prime minister will launch the Digital Payment Index Pakistan next month, with arrangements being made by the Governor of the State Bank of Pakistan (SBP) and the CEO of Karandaaz. A team led by the Secretary of Petroleum and Natural Resources will devise the mechanism for QR code implementation within a month, including the mandatory use of QR codes, Point of Sale (PoS) terminals, and soft PoS at petrol stations across the country.
The government has also set ambitious targets for digital payments, including increasing active digital commerce points from 0.5 million to 2 million, boosting digital transactions by 100%, and ensuring 100% of remittances are credited to bank accounts. Additionally, the annual subsidy for cashless transactions will be increased to Rs 3.5 billion.
The government aims to eliminate Right of Way (RoW) charges for IT infrastructure development and will ensure the implementation of these digital initiatives at the provincial level.
