Finance Minister pledges to promote digital economy

Finance Minister Muhammad Aurangzeb has reiterated the government's commitment to ensure that economic policy is transparent, inclusive, and growth-oriented. 

Talking to a delegation of Pakistan Association of Large Steel Producers, FM Aurangzeb reiterated the government's commitment to support productive sectors of the economy. He emphasized that every sector has to play its role in stabilising the economy as the government pursues a strategy to expand the tax base, reduce burden on salaried class and bring the undocumented economy into the fold. 

The delegation apprised the Minister of critical challenges confronting the steel industry, including high energy costs and the need for a stable policy environment to ensure long-term investment and growth. 

Meanwhile, the Finance Minister chaired a high-level meeting in Islamabad today, to discuss measures for advancing the country's transition to a digital economy. 

The meeting was attended by senior representatives from commercial banks, development finance institutions, regulators, and investment experts who are members of the Committee established by the Minister to devise recommendations for a digital and less cash-dependent economy.

The meeting agreed that a more level playing field between cash and digital transactions should be created, and incentive structures should be rebalanced to make digital payments more attractive and cost-effective for both consumers and businesses. 

He emphasized that digitalization is central to Pakistan's economic modernization agenda and increasing digital payments will significantly enhance financial transparency, promote inclusion, and improve efficiency in both public and private sector operations.

The Minister directed the Committee to prepare a detailed and time-bound roadmap for implementation of these initiatives, to be submitted to the Finance Division for further action and policy consideration.