Ministry Advises PM Shehbaz Sharif on Unfeasible Digital Wallet Initiative

The Ministry of Information Technology and Telecommunication recently advised Prime Minister Shehbaz Sharif that a proposed initiative to introduce a digital wallet through collaboration between NADRA and an Electronic Money Institution (EMI) was deemed unfeasible. This recommendation was put forth to the Strategic Implementation and Facilitation Committee (SIFC).

After a meeting, it was communicated to the Prime Minister that the plan was not viable, resulting in its discontinuation. The ministry's assessment led to the decision to halt the partnership with an EMI for the digital wallet launch.

The proposal aimed to create a digital wallet that would offer convenient and secure electronic payment options to the public. NADRA, the National Database and Registration Authority, and an EMI were set to collaborate on this initiative, which was expected to streamline financial transactions and enhance digital payment services.

Despite initial plans, the Ministry of Information Technology and Telecommunication's evaluation determined that the proposed digital wallet initiative was not feasible. As a result, the project has been discontinued. This decision underscores the importance of thorough assessments before implementing new initiatives to ensure their viability and success.