First digital payment system launched in Pakistan to accelerate official economy  


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13/01/2021 10:45 am  

On January 12, 2021, Prime Minister Imran Khan introduced the 'Raast' payment method. The payment method is essentially digital, claiming that this facility is one of the government's efforts to create a 'digital Pakistan'. In addition, the initiative will help the whole country 'moving out of the paper economy' according to the latest sources.

At the inauguration ceremony, he declared that the government is making the ultimate effort to improve the backward sector of society in this particular official economy. In addition, it made a hopeful declaration that the 'Raast’' payment method will also relieve the poor.

 

Likewise, Khan stressed that paper economies are an obstacle for individuals, while digitized payments will help Pakistan towards a prosperous future. Similarly, governments can only collect more taxes when official trading channels are properly utilized.

He stressed that a lack of financial assets is leading to a decline in the country's infrastructure, human development, and various other sectors, leading to deprivation of returns.

According to a recent report, 'Raast' will be the first nationwide instant digital payment system created to facilitate end-to-end online payments between people, businesses and government units in the short term.

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