The decision was taken during a high-level meeting chaired by Prime Minister Shehbaz Sharif, with participation from key officials of relevant ministries and departments. According to officials, this initiative is part of Pakistan’s broader strategy to accelerate digital transformation.

As part of the upcoming steps, premier is expected to officially launch the Digital Payment Index Pakistan next month. To facilitate this, the Governor of the State Bank of Pakistan (SBP) and the CEO of Karandaaz have been instructed to make the necessary preparations.

To ensure a smooth and timely rollout, a dedicated implementation framework will be developed within a month by a committee headed by the Secretary of Petroleum and Natural Resources. The committee will also include the Secretary of Power, the Secretary of Information Technology and Telecommunications, and the Chairman of the Capital Development Authority (CDA).

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The Chairman of the Capital Development Authority (CDA) has also been asked to go through available regulations to make digital payments obligatory for a range of state services and utilities.

In order to facilitate this digital revolution, the Ministry of Finance and the State Bank of Pakistan (SBP) will increase the limit of subsidy to Rs. 3.5 billion. Banks will be allowed to charge up to a maximum Merchant Discount Rate (MDR) of 0.25%, with the excess to be borne by the service providers.

The sub-committee that will monitor payments by the government will also reassess implementation schedules in collaboration with provincial authorities.