Pakistan still heavily relies on cash

Despite the government's ambitious plans to transform Pakistan into a digital economy, the reality on the ground shows that cash still dominates financial transactions. With more than Rs9.5 trillion in cash circulating in the economy, Pakistan's dependence on physical currency highlights how far the country has to go before becoming truly cashless. Pakistan Industrial and Traders Association Front (PIAF) Senior Vice Chairman Muddasir Masood Chaudhry said that while the government has made rapid progress in promoting digital payments, it has not adequately addressed the real challenges facing traders and consumers. He said the lack of awareness in both rural and urban areas, limited financial literacy, weak internet infrastructure and frequent network disruptions continue to block the path towards full digital adoption.