Imran Khan Launches Raast Payment System

The Prime Minister of Pakistan Imran Khan on Monday inaugurated the Direct Digital Program called Raast, which is being lauded globally.

Prime Minister Imran Khan on Monday launched the country’s first instant digital payment system called ‘Raast’, which he said would boost the country’s formal economy.

In his video message, British High Commissioner Christian Turner welcomed the inauguration of the program, saying that the British government is full of admiration for the partners who have worked towards today’s launch.

Watch what Christian Turner, British High Commissioner to Pakistan has to say about ”Raast” Pakistan’s Instant Payment System.#RaastBySBP@CTurnerFCDO @StateBank_Pak pic.twitter.com/UTJmFUfVcC

— Government of Pakistan (@GovtofPakistan) January 11, 2021

He said, “I am delighted to be here at the launch of Raast paisa, we know that financial inclusion is a key part of growth for any economy bringing women. All the parts of the economy able to do quick instant payments so they have got better access to the economy”.

The program has been praised not only by the British High Commissioner but also by the World Bank Director Najy Benhassine.

He described the Raast digital program as an important milestone.

Watch what Najy Benhassine, World Bank Country Director has to say about ”Raast” Pakistan’s Instant Payment System.#RaastBySBP@WBPakistanCD @StateBank_Pak pic.twitter.com/vdMKu8dyFW

— Government of Pakistan (@GovtofPakistan) January 11, 2021

Governor of State Bank Dr. Raza Baqir said that making payments will become faster and easier with the launch of the new digital payment system, Raast.

Watch what Reza Baqir, Governor of the State Bank of Pakistan has to say about ”Raast” Pakistan’s Instant Payment System.’#RaastBySBP@StateBank_Pak pic.twitter.com/EPOmsH3yW9

— Government of Pakistan (@GovtofPakistan) January 11, 2021

Addressing the launch ceremony in Islamabad, Pm Imran Khan termed the new system a “big step” towards realizing Pakistan’s full potential, saying the country’s cash economy was a “big obstacle” for it to fully take advantage of its population of 220 million.

He further added that “the digital payment system would slowly take people away from the cash economy” to a point where advantage could be taken of the country’s large population.