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PESHAWAR: Khyber Pakhtunkhwa (KP) is set to become Pakistan’s first cashless province, as announced by Chief Minister Ali Amin Gandapur.
Initiating the “Cashless Khyber Pakhtunkhwa Initiative,” a significant step towards the digital transformation of the province, has been discussed by the Chief Minister and the Chief Secretary of the Government of Khyber Pakhtunkhwa.
Objectives of the Digital Payment System
According to the letter, the Chief Minister has ordered the launch of this program to create a digital payment system that all companies are required to use. The government’s digitalization strategy and global best practices will be met by this, which will reduce the need for cash and ensure efficient financial transactions.
This effort aims to implement digital payment systems across the province by forming strategic alliances with mobile wallet providers and implementing a system of district-level enforcement.
By taking this step, Khyber Pakhtunkhwa would be able to boost its economy, make its finances more transparent, and establish itself as an industry pioneer in digital governance and financial inclusion. Fraud and corruption can be reduced, tax compliance can be improved, and a business-friendly atmosphere can be created by increasing access to digital banking. In addition to attracting international investment and encouraging digital entrepreneurship, a centralized database of businesses will allow for targeted financial assistance during crises.
Steps for Implementation
The following steps will be taken by the Finance Department, which will take the lead in ensuring the initiative’s success:
- Keeping an eye on the KP PPRA Rules-based or Memorandum of Understanding (MoU)-based mobile wallet service provider selection process;
- To facilitate the shift to digital payments, mobile wallet providers should create an online registration gateway to bring businesses on board;
- Make sure that district administrations lead a province-wide compliance drive that requires all businesses, including public transport, shops, kiosks, and street vendors, to show QR codes.
The in-depth report provides a thorough overview of the objectives and plan for achieving them. In an endeavor to establish Khyber Pakhtunkhwa as the country’s first cashless province, the Chief Minister has ordered steps to be taken to put this plan into action through coordinated efforts across departments.
