Prime Minister Shehbaz Sharif has praised Raast, Pakistan’s national payment system, for its pivotal role in promoting a cashless economy and advancing financial inclusion across the country. Speaking to the newly appointed members of the Raast board at the PM House on Thursday, the prime minister emphasized the importance of accelerating efforts to encourage businesses and individuals to adopt digital payments through Raast.

Congratulating the board members on assuming their responsibilities, the prime minister expressed optimism that their expertise would further strengthen the operations of this crucial department. During the briefing, the board highlighted Raast’s impressive achievements, reporting that approximately three billion transactions valued at Rs 80 trillion had been completed to date.

The board also shared that Raast currently serves over 48 million consumers and collaborates with 53 financial institutions nationwide. As a department of the State Bank of Pakistan (SBP), Raast is staffed largely by private sector experts with significant experience in financial technology and payments. The meeting underscored Raast’s commitment to transitioning all government-to-business (G2B) and business-to-government (B2G) payments onto the platform, ensuring transparency, efficiency, and convenience.

Prime Minister Shehbaz Sharif highlighted that Raast provides every individual with a safe and reliable digital payment platform, fostering ease of transactions and reducing dependence on cash. He called upon the board to further expand Raast’s outreach, particularly targeting businessmen and institutions to adopt the system for smoother, faster, and more secure transactions.

The meeting was attended by key government officials, including Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Information Technology Shaza Fatima Khawaja, Minister of State for Finance Bilal Azhar Kayani, the Governor of the State Bank of Pakistan, Raast Board members, the CEO, and other senior officials.

The prime minister reiterated that the successful adoption of Raast is a cornerstone of Pakistan’s vision for a digital economy. By integrating advanced digital payment solutions, the platform not only enhances transparency and accountability but also strengthens financial inclusion for citizens across all sectors. Raast’s growth is expected to play a transformative role in Pakistan’s journey toward a fully cashless economy.