Islamabad:
The State Bank of Pakistan (SBP) announced that in June 2026, all provincial federal and government payments will be fully digitized.
Currently, two banks in the country have already launched digital banking services and the number of digital merchants is expected to increase to two million in a year.
These details were revealed at a meeting of the permanent finance committee of the National Assembly, held Thursday in Parliament under the chairmanship of Mna Syed Naveed Qamar. The Committee also examined the Bill on Business Social Responsibility (CSR).
Committee information, the SBP vice-governor said that the Central Bank took action to promote digital payments. He said that in December 2026, all government payments, including those of public enterprises (SOES), will be fully digitized.
Currently, two banks have started to offer digital banking services. The Minister of State for Finance Bilal Azhar Kayani added that Mashreq Bank had launched digital banking services in record time, employing 400 staff members deployed in 19 cities, while the services would be available nationally.
The SBP official also informed the Committee that there were currently more than 5,000 digital merchants in the country. A committee established by Prime Minister Shehbaz Sharif has set an objective to increase this figure to two million in a year, aimed at promoting digital transactions across Pakistan.
Digital payments for consumers are free, while transfers of interbank funds incur fees only for transactions greater than 25,000 rupees; However, Raast payments remain free.
He noted that 3.5 billion rupees of merchant payment plans are funded directly by the government, and that accounts can now be opened digitally 24/7.
The session also examined the CSR bill. President Naveed Qamar noted that the committee was looking for common ground. The president of Securities and Exchange Commission of Pakistan (SECP) informed the committee that out of 447 companies, 315 engaged in CS activities in 2024.
About 116 companies spent 22 billion rupees for CSR, 199 companies have not provided details on their CSR expenses, and 100 companies have spent nothing on CSR.
He said that CSR is not compulsory. However, once the bill has been adopted, companies may be required to disclose CSR expenses, with penalties up to 1 billion rupees for non-disclosure.
PPP legislative, Hina Rabbani Khar fears that oil refineries in Muzaffargarh pollute the region, while CSR funds are in the capital.
