PESHAWAR: The Khyber Pakhtunkhwa government has launched the “Cashless Khyber Pakhtunkhwa Initiative” as part of the province’s digital transformation plan. This ambitious project is set to introduce a mandatory digital payment system for all businesses, aiming to streamline financial transactions and reduce reliance on cash.
According to the directives issued by the Chief Minister’s Secretariat, the initiative will be executed through strategic partnerships with mobile wallet service providers.
The plan includes a robust enforcement mechanism led by district administrations to ensure widespread adoption. The initiative is expected to drive economic growth, improve financial transparency, and position Khyber Pakhtunkhwa as a leader in digital governance and financial inclusion.
The move will also help tackle issues like fraud and corruption, enhance tax compliance, and create a more business-friendly environment.
Additionally, the establishment of a centralized business database will enable better financial management and facilitate targeted aid during crises. This will also open avenues for fintech investment and boost digital entrepreneurship in the region.
To ensure successful implementation, the Finance Department will oversee the selection of mobile wallet providers through a memorandum of understanding or quality-based selection under the Khyber Pakhtunkhwa Public Procurement Regulatory Authority (KP-PPRA) rules. A digital registration portal will also be developed to onboard businesses and facilitate their transition to digital payments. District administrations will lead the province-wide compliance drive, ensuring the mandatory display of QR codes in businesses, including public transport, shops, kiosks, and street vendors.
The chief minister Ali Amin Gandapur has instructed for coordinated interdepartmental efforts to make Khyber Pakhtunkhwa the first cashless province in the country, with the objective of enhancing economic stability and transparency.
