The State Bank of Pakistan (SBP), in partnership with 12 financial institutions, has launched the “Go Cashless” campaign in Karachi, aimed at promoting digital payment solutions and accelerating the country’s shift toward a cashless economy.
The campaign was officially inaugurated by SBP Deputy Governor Saleem Ullah at a shopping mall located in the Clifton area. This initiative forms part of the central bank’s broader strategy to enhance financial inclusion and promote economic documentation by encouraging the widespread adoption of digital transactions.
“This ‘Go Cashless’ campaign is more than a single event,” Saleem Ullah stated in an official SBP press release. “It reflects our long-term commitment to transitioning Pakistan toward a digital economy.”
The campaign also underscores the SBP’s strategic objective of establishing a cash-lite economy, where digital payments are the primary mode of transaction for all sectors, ranging from small-scale vendors to major retail businesses.
Pakistan has experienced notable growth in digital financial activity in recent years. According to the SBP, its instant payment system, Raast, has processed over 892 million transactions worth approximately Rs20 trillion ($72 billion) since its inception in 2021. In the second quarter of the fiscal year 2025 alone, Raast facilitated 795.7 million transactions totaling Rs6.4 trillion ($23.04 billion).
