ISLAMABAD: The federal capital is set to become Pakistan’s first fully cashless city, with the government setting December 31 as the final deadline for bringing all businesses and traders into the digital payments system.
The target was announced during a high-level meeting chaired by Minister of State for Interior Talal Chaudhry, attended by Capital Development Authority (CDA) Chairman Sohail Ashraf, representatives of the banking sector and senior government officials.
Addressing the meeting, Talal Chaudhry said work on the Cashless Islamabad initiative was progressing rapidly under special directives from the prime minister and Federal Interior Minister Mohsin Naqvi.
He said the interior minister had pledged to the prime minister that Islamabad would become not only Pakistan’s first cashless city but also the world’s first cashless capital.
Chaudhry said all relevant institutions were working together to achieve this vision, adding that consultation and recommendations from all stakeholders were essential to the project’s successful implementation.
Outlining the government’s strategy, he announced that cash payments would no longer be accepted at any department of the Islamabad Capital Territory (ICT) administration or the CDA after November 30. All government transactions would instead be conducted through digital payment channels.
He revealed that approximately 26,000 merchants in the capital had already been integrated into the digital payment system.
The government aims to extend digital payment facilities to every level of commercial activity by December 31, ranging from street vendors and pushcart operators to major business establishments.
According to the minister, the transition to a cashless economy would significantly improve financial transparency, tax monitoring and the overall transaction system.
Representatives of the banking sector welcomed the government’s Cashless Islamabad initiative and assured the authorities of their full cooperation in ensuring its successful implementation and transforming the capital into a modern digital city.
