PM Shehbaz chairs meeting on cashless economy; Raast to replace AAA cheques
Prime Minister Shehbaz Sharif chaired a high-level meeting on promoting a cashless economy on Friday. Cheque payments under Asaan Assignment Accounts will end on November 15, with Raast the only channel from November 16.
- Cheque payments under Asaan Assignment Accounts stop from November 15.
- All such payments go through Raast from November 16.
- The prime minister asked for a roadmap with targets and deadlines for fully digital payments.
Prime Minister Shehbaz Sharif chaired a high-level meeting on Friday on promoting a cashless economy and reviewed how government measures to expand digital payments are being carried out, according to TechJuice and Nawa-i-Waqt.
The federal government has decided to discontinue cheque-based payments under the Asaan Assignment Accounts system from November 15. From November 16, all payments will be made exclusively through Raast, TechJuice reported.
Officials told the meeting that drawing and disbursing officers have already been trained for the transition. Digitisation of payments is progressing across federal and provincial departments, and most institutions are expected to complete it by December 2026. Payments under the Benazir Income Support Programme are now made entirely through digital wallets.
The prime minister directed authorities to prepare a clear roadmap with specific targets and deadlines for a fully digital payments system across the country. He asked all ministries and government institutions to ensure the cashless economy plan is fully implemented, and told officials to address without delay the technical and consumer-related problems users face.
He stressed that wider access to technology and reliable internet connectivity are essential to the initiative's success. Officials said work is under way on a system that would allow digital transactions in areas without internet access, and that efforts to improve internet infrastructure nationwide are being accelerated.
The meeting also reviewed efforts to promote Raast QR code payments between consumers and merchants. The prime minister directed that the initiative continue under government patronage and called for a media campaign encouraging electricity and gas consumers to pay bills by scanning the QR codes printed on them.
He commended the finance ministry and other institutions for their efforts. TechJuice also noted that the government has directed commercial banks and other financial institutions to simplify lending procedures and improve access to financing for small businesses.
Background
khabr.pk reported on 6 November that the prime minister had ordered a roadmap for fully digital payments and that cheque payments into Asaan Assignment Accounts would stop from November 15. On 5 November, Finance Minister Muhammad Aurangzeb met a Mastercard delegation to discuss digital payments, financial inclusion and cybersecurity.
Why it matters
Government departments and suppliers who receive payments through Asaan Assignment Accounts will have to use Raast instead of cheques from November 16. Recipients of Benazir Income Support Programme payments already receive money through digital wallets. Households paying electricity and gas bills may be asked to scan QR codes printed on them, and small businesses may see simpler lending procedures, according to the reports.
