PM Khan launches SBP’s P2P digital payment initiative

Prime Minister Imran Khan on Tuesday launched Raast Person-to-Person Payments, a State Bank of Pakistan (SBP) initiative aimed at introducing free of cost instant digital payments, and said that the initiative would facilitate people who are afraid of going to banks.

While speaking at the launching ceremony of Raast, the prime minister said that Pakistan needs to take full advantage of the technology to grow in the international market. “Progress towards digital Pakistan is aimed at making the entire population as an asset,” he said.

PM Imran Khan said that the common people who are afraid to go to banks will be facilitated through that instant person-to-person payment scheme launched by the SBP.

He further shared that the World Bank report shared a decline in poverty in Pakistan and said that he considers it their major achievement in the scenario where top economies have seen a surge in poverty owing to Covid pandemic.

“We are also using technology in FBR as only 20 million people out of 220 million pay taxes,” he said and added that many people have been tracked spending a luxurious life but had paid zero taxes.

“We are getting data of such people and soon FBR will approach them,” he said.

SBP Governor Reza Baqir speaking during the launching of Raast P2P initiative said that digital payment through this platform could be made without any charges. “I hope the public will like the initiative of the state bank,” he said.