*KARACHI – **Pakistan State Bank unveils plans for modern and robustdigital payment system across the country to boost the economy and the cashflow in the new digital world.*
*Governor of State Bank of Pakistan Dr. Reza Baqir has unveiled governmentplans for the modern digital payment system.*
*He said on Saturday heavy reliance on cash and limited use of digitalchannels reduces economic efficiency, hinders financial and economicdevelopment and impedes the goal of documenting the economy.*
He was speaking at a workshop titled ‘Digital Payments Reforms’ organisedby SBP in collaboration with the World Bank.
The objective of the workshop was to share a draft National Payment SystemsStrategy and solicit the input of key stakeholders involved in itsimplementation. The workshop was attended by senior officials from PTA,NADRA, SECP, FBR, the PM office’s Strategic Reforms and ImplementationUnit, Banks, Telcos, Electronic Money Institution (EMIs), PSO/PSPs andFintechs.
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Dr. Baqir led the workshop, while Chairman PTA, Major General (Retd) AmirAzeem Bajwa, and Country Director World Bank, Illango Patchamuthu were alsopresent at the occasion.
The governor emphasised the importance of building a modern and robustpayment system in the country that enables provision of cost effective andeasily available digital financial services to the general public.
This, he stated is a key strategic objective of SBP. Governor Baqir sharedSBP’s plans for leading an aggressive adoption and implementation of theNational Payment Systems Strategy in the country.
