The Ministry of Information Technology and Telecommunication (MoITT) has announced that a third-party audit will be conducted for Pakistan’s cashless economy project. The Government has invited applications from qualified firms to carry out an independent review through an international competitive bidding process.
According to official details, the Government launched the cashless economy initiative to move the country from a cash-based system to a fully digital one. The program aims to promote transparency, improve service delivery, reduce transaction losses, and boost financial inclusion.
The project also includes building a Digital Public Infrastructure (DPI) that allows citizens to make secure digital payments through the RAAST platform. It will also provide access to government services using a unified digital identity system.
The selected consultancy firm will evaluate the project’s design, progress, and efficiency. It will review whether the current approach aligns with the stated goals and suggest improvements. The firm will also examine institutional frameworks, highlight challenges, and recommend policy and governance reforms.
As part of the initiative, merchants across Pakistan are being encouraged to accept digital payments through QR codes. Transaction fees and duties on payment devices are being reduced. The Government has also taken steps to expand the fiber optic network by removing Right-of-Way (ROW) charges, a move already implemented by Pakistan Railways, the National Highway Authority (NHA), and the Capital Development Authority (CDA).
Prime Minister Shehbaz Sharif is personally monitoring the progress of the project. A high-level steering committee has been formed under his direction to oversee implementation. The committee includes three sub-committees led by the Governor of the State Bank of Pakistan, the IT Minister, and the Finance Secretary.
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The audit will be supervised by MoITT and funded by the Government of Pakistan. The selected firm must ensure confidentiality, as all data and reports will remain the property of the Government.
