Raast transactions hit Rs1.6trn as digital banking users cross 127m

More than 127 million people are now benefiting from digital banking services in Pakistan, Prime Minister Shehbaz Sharif was informed on Tuesday during a review meeting on the promotion of a cashless economy.

Officials told the meeting that payments worth Rs1.6 trillion were processed through Raast by federal and provincial governments between July 2025 and January 2026. Salaries, pensions and vendor payments have been shifted to the platform, a move the prime minister said marked significant progress in digitising public sector transactions. He commended the economic team and the State Bank of Pakistan for facilitating the transition.

The meeting was also informed that 71% of eligible beneficiaries under the Ramazan relief package have received financial assistance so far through the Benazir Income Support Programme. Officials said that by the 12th day of Ramazan last year, only 24% of beneficiaries had been paid, compared with over 71% this year following timely administrative measures.

Representatives of the finance ministry, the central bank, BISP and the information ministry briefed participants on steps taken to expand the digital payments ecosystem, including the rollout of a monitoring dashboard.

The prime minister directed government institutions to print QR codes on all bills to facilitate digital payments and instructed authorities to achieve digital transaction targets within the prescribed timeframe.