A meeting was held at the CDA Headquarters under the chairmanship of Member Administration and Estate, Talat Mehmood, to promote a cashless economy in Islamabad.
The meeting was attended by CDA Member Finance Tahir Naeem, senior officers from the State Bank of Pakistan, CDA, ICT Administration and representatives from private and commercial banks.
The primary objective of the meeting was to take concrete measures in line with the vision of the Prime Minister of Pakistan to promote a cashless economy in Islamabad. This initiative aims to enable all types of payments through digital means and QR codes, positioning Islamabad as a model and exemplary city for other parts of the country.
The meeting involved detailed discussions on transitioning the Federal Capital, Islamabad into a modern and cashless economy. This includes all types of businesses in the city, such as retailers, wholesalers, fruit and vegetable markets, large and small shopping marts, cash and carries, restaurants, hospitals, pharmacies, laboratories all private and government offices, and even cabs, with a specific focus on digital payments, particularly through QR codes.
It was decided that all types of businesses in Islamabad, including small and large merchants, will be required to install QR codes at their premises. The CDA will soon issue a notification making it mandatory to display QR codes at all markets, commercial centers and other public transaction points. Additionally, a comprehensive awareness campaign will be launched to encourage the citizens of Islamabad to adopt cashless payments.
The meeting also decided to establish an integrated interface with the banking sector to provide all merchants with direct QR codes. Furthermore, all CDA payments will be made through digital means, and effective measures will be taken to promote the widespread use of QR codes.
To oversee Islamabad’s transition to a cashless city and review progress, it was decided to form a steering committee. This committee will comprise officers from CDA, ICT, the State Bank of Pakistan and commercial banks. Its goal will be to ensure a coordinated strategy and adopt a uniform policy in this regard. Additionally, it will work to remove all obstacles to a cashless economy, integrate sectors that have not yet adopted the system, and make QR code display mandatory for all.
CDA Member Administration and Estate, Talat Mehmood emphasized ensuring effective coordination and communication with all relevant institutions, banks and the business community to accelerate this process and establish Islamabad as a fully cashless and digitalized city. In this regard, the CDA has already eliminated all cash transactions within its authority, moved all payments online, and implemented a paperless system internally.
CDA Member Administration and Estate, Talat Mehmood, said that these comprehensive measures would promote transparency, ease and swift transactions in Islamabad, providing the public with an opportunity to benefit from the state-of-the-art digital and cashless payment system.
