The State Bank of Pakistan’s RAAST digital payment platform has processed more than three billion transactions worth nearly Rs80 trillion since its launch and expanded to over 48 million users, with 53 financial institutions across the country now integrated into the system, officials told the prime minister during a briefing on Friday.
During the briefing, the prime minister was informed that RAAST is positioned as a core component of Pakistan’s digital payments infrastructure, with plans under consideration to route all Government-to-Business (G2B) and Business-to-Government (B2G) payments through the platform. The move is intended to improve efficiency, traceability and speed of public-sector transactions.
Officials explained that while the platform is led by the State Bank of Pakistan, its governance structure includes a predominantly private-sector board. All but one board member have been selected from the private sector to bring operational, technological and financial expertise to the management of the system.
The briefing also highlighted the role of the private sector in scaling RAAST’s adoption, particularly in merchant payments and institutional usage. Officials said this public-private governance model is expected to support innovation and operational resilience as transaction volumes grow.
The meeting reviewed future plans for expanding RAAST’s role in the broader economy, including encouraging businesses and individuals to shift away from cash-based transactions. Officials said the platform’s growth reflects the government’s wider push toward digitisation, transparency and financial inclusion.
Leave a Reply