ISLAMABAD: Specialised committees set up by the prime minister to promote a cashless economy have outlined ambitious national targets for the State Bank of Pakistan (SBP), aimed at accelerating the growth of digital financial services and fintech adoption across the country.

Under the PM’s Cashless Economy initiative, key goals include raising the number of active digital merchants to 2 million by the end of 2025-26, increasing mobile and internet banking users from the current 95 million to 120m within a year, and doubling annual digital payment transactions to 15 billion.

According to finance ministry sources, another primary target is routing 100pc of overseas remittances through bank accounts or mobile wallets, up from the current 80pc. This move seeks to eliminate cash payouts and boost transparency in remittance........

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