ISLAMABAD –The federal government has decided to turn the capital, Islamabad, into the country’s first fully cashless city.
A meeting on the cashless Islamabad initiative was held under the chairmanship of Minister of State for Interior Talal Chaudhry. It was attended by the CDA chairman, representatives of the banking sector and other officials.
Banking sector representatives assured the meeting of their cooperation for the success of the project.
Speaking on the occasion, Talal Chaudhry said the consultation and suggestions of all stakeholders were vital to the project’s success. He said that, on the directives of the prime minister and the interior minister, work on implementing the cashless Islamabad project was proceeding rapidly.
He said that after November 30, no cash payments would be accepted in any department of the ICT (Islamabad Capital Territory) administration or the CDA. The target is to bring all merchants in Islamabad into the cashless system by December 31.
Chaudhry said the cashless system would improve financial transparency, tax monitoring and the transaction system. He added that 26,000 merchants in Islamabad were already connected to digital payment systems, and that digital payment facilities would be extended to everyone from street vendors to large commercial centres.
