The government has decided to make the federal capital Islamabad the country’s first completely cashless city, for which the deadline has been set for December 31.
An important meeting was held under the chairmanship of Minister of State for Interior Talal Chaudhry on the cashless Islamabad project, which was attended by the Chairman CDA, representatives of the banking sector and relevant authorities.
Addressing the meeting, Talal Chaudhry said that consultation and suggestions of all stakeholders are important for the success of the project. The project is being implemented rapidly on the instructions of Prime Minister Shehbaz Sharif and Interior Minister Mohsin Naqvi.
He clarified that after November 30, cash payments will not be accepted in any department of the Islamabad Capital Territory (ICT) and Capital Development Authority (CDA).
According to Talal Chaudhry, the target has been set to connect all traders and business centers in Islamabad to the digital payment system by December 31.
He said that so far 26,000 merchants in Islamabad have become part of the digital payment system.
The Minister of State said that the implementation of the cashless system will improve financial transparency, tax monitoring and transaction procedures.
He added that digital payments will be provided from street vendors to large business centers so that citizens can easily make transactions without cash.
In the meeting, representatives of the banking sector also assured full cooperation in government initiatives for the success of the project.
According to officials, the aim of the project is to expand the digital payment system in Islamabad and connect the city to the modern digital financial system.
