KARACHI – Cash payments through Asaan Assignment Accounts will not be available after mid November as Pakistan prepares for shift in its payment system. Starting November 16, the government will make Raast digital payments mandatory for these accounts, marking a significant step toward a cashless economy under new financial rules.
The federal government decided to shift all payments through ASAAN Assignment Accounts to Raast digital payment system from November 16, ending conventional cash-based payments under the mechanism.
The decision forms part of government’s broader Cashless Pakistan initiative, aimed at cutting dependence on physical currency, improving financial transparency and expanding digital payment facilities nationwide.
According to the Ministry of Finance, preparations for the new payment mechanism have been completed, including the training of Drawing and Disbursing Officers (DDOs), who will be responsible for processing payments through the Raast system.
The training is intended to ensure a smooth transition when the new arrangement takes effect on November 16, allowing all payments through ASAAN Assignment Accounts to be transferred digitally.
The meeting also revealed remarkable growth in the adoption of digital payments across Pakistan, with the number of merchants accepting electronic transactions increasing from 500,000 to 2.03 million. The sharp increase reflects the growing popularity of cashless payment methods among businesses and consumers as digital financial services become more widely available.
Officials made it clear that the expansion of digital payment infrastructure is helping businesses adopt faster, more convenient and transparent methods of receiving payments.
The government also brings Raast QR codes on more than 45 million electricity and gas bills, allowing millions of consumers to pay their utility bills directly through digital banking applications. The facility enables customers to complete payments from their homes without visiting banks, collection centers or payment counters.
The move is expected to simplify payments for citizens accessing NADRA services while further reducing the need for cash transactions at government facilities. Meanwhile, officials informed the meeting that the total number of digital payment transactions in Pakistan has doubled over the past year, highlighting the rapid expansion of electronic financial services.
The federal government is accelerating efforts to bring public institutions, businesses and consumers into a more integrated digital payment network.
Cashless Pakistan initiative seeks to modernize financial transactions, improve efficiency, reduce cash handling and encourage greater use of secure electronic payment channels.
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