Finance Minister lauds digital transformation efforts

F.P. Report

ISLAMABAD: Caretaker Federal Minister for Finance, Revenue and Economic Affairs, Dr. Shamshad Akhtar, here on Thursday commended the initiatives undertaken by the Bill and Melinda Gates Foundation and Karandaaz for the digital transformation of Pakistan.

Speaking at the ‘Pakistan Digital Stake’ Workshop here, the Minister said the creation of Digital Stake by these organizations was in line with the government’s policy of digitization

She said digital transactions play a vital role in empowering both urban residents and business individuals, offering them the flexibility to complete financial transactions promptly and with ease.

The collaborative efforts extend beyond the private sector, with active participation from key government institutions such as the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan (SECP) and the Accountability Bureau.

These entities are contributing significantly to the implementation of the ‘Pakistan Digital Stake,’ reinforcing the government’s commitment to the digitization agenda, she added. Dr. Shamshad Akhtar underscored the importance of the project for Pakistan’s progress, asserting, this initiative was of utmost importance for the development of the country adding the government would use all available resources to ensure its success.

The minister reiterated the government’s commitment to financial inclusion, economic self-sufficiency, poverty reduction, and transparency in governance. Drawing inspiration from the positive impacts of digital transformation in the United Arab Emirates, Estonia, and Singapore, Dr. Shamshad Akhtar expressed confidence in the potential of ‘Digital Stake’ to bring similar improvements to Pakistan.

The ‘Pakistan Digital Stake’ aims to establish the country on digital lines, creating opportunities for millions of Pakistanis to engage in daily financial transactions seamlessly. Dr. Shamshad Akhtar asserted that the success of this initiative on a global scale reflects its immense potential.

In a move towards further innovation, the Finance Minister highlighted the collaboration between the State Bank and Karandaaz, resulting in the establishment of the ‘Raast’ platform. (APP)