Government Aims to Digitize Economy

ISLAMABAD: As part of a wide-ranging governmental reform strategy designed to revolutionize the economy, Prime Minister Shehbaz Sharif instructed the appropriate ministries and agencies on Thursday to completely computerize the nation’s economy.

The prime minister emphasised that strengthening the economy and formalising the informal sector are essential to the government’s reform plan while presiding over a review session.

He stated, “To ensure long-term, sustainable change, we are implementing these reforms in a coordinated and institutionalised way.”

He also declared the establishment of a working group to oversee the computerization process, underscoring his dedication to modernizing the economy.

He lauded the effective execution of the digital wallet system used to distribute the Ramadan relief package and advocated for its application in other industries.

The meeting received information that the Ramadan relief package was distributed entirely using digital methods, in accordance with the prime minister’s instructions. Participants also received a briefing on upcoming projects to further the digitization of the economy.

A noteworthy event that was emphasised during the conference was the debut of an ICT application in Islamabad, which now offers access to over 150 governmental services.

The volume of transactions on the RAAST payment gateway has also significantly increased, and the government is collaborating with the State Bank of Pakistan (SBP) to further incorporate it into regular financial operations.

Sharif received a briefing on the government’s five-point action plan, which is intended to promote digital economic growth.

The strategy is focused on growing digital payments, incentivizing digital transactions for consumers and businesses, digitizing government payments, raising public awareness, and building a comprehensive data monitoring framework.

The meeting also took note of the fact that every federal government payment, including salaries and bills, is now processed digitally.

To oversee the implementation and monitoring of these projects, the prime minister gave instructions for the immediate establishment of a working group.

Federal ministers Ahsan Iqbal, Ahad Cheema, Ali Pervaiz Malik, Shaza Fatima Khawaja, SBP Governor Jameel Ahmed, and other high-ranking officials were present at the gathering.