The government has asked the State Bank of Pakistan (SBP) to prepare a detailed report on the impact of the Rs3.5 billion subsidy allocated for Raast QR-based person-to-merchant (P2M) payments. The Economic Coordination Committee (ECC) directed the central bank to submit the report for review in July 2026.
According to a news report, the Finance Division told the ECC that the subsidy aims to reduce merchants’ cost burden and promote digital transactions, supporting financial inclusion and the growth of a cashless economy.Â
Under the scheme, banks, microfinance banks, and Electronic Money Institutions (EMIs) regulated by SBP are entitled to 0.5% of each Raast QR transaction or Rs100 per transaction, whichever is lower, while they may also charge up to 0.25% for onboarding and servicing merchants.
The report is expected to include the subsidy’s impact, action points, potential modifications, and proposals to improve merchant adoption. It will also assess transaction volumes and consumer usage to guide possible enhancements or discontinuation of the programme.
The ECC noted that previous directions from the Prime Minister included reducing import duties and taxes on payment acceptance devices and ensuring zero cost for merchants using Raast QR.Â
SBP, in consultation with stakeholders, has already devised the MDR Subsidy Scheme to accelerate the transition from cash-based to digital retail payments.
