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PM Imran Khan launches ‘Raast’ fee system

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PM Imran Khan launches 'Raast' payment system

ISLAMABAD: Prime Minister Imran Khan on Monday, launching the ‘Raast’ fee system, mentioned that the digital Pakistan initiative would assist the nation transfer away from the money financial system.

The premier, talking on the ceremony for the, mentioned that the ‘Raast’ fee system would assist eradicate poverty in Pakistan.

“Cash economy is an obstacle for the people,” he mentioned as he pressured that the digitised funds would assist Pakistan on its street to prosperity.

Speaking additional concerning the nation’s financial system, he mentioned that Pakistan’s tax assortment was extraordinarily low and that out of the 220 million inhabitants, solely two million paid tax.

“Only 3,000 Pakistanis pay 70% tax,” he mentioned, including that the low tax assortment was a significant impediment within the nation’s growth.

Praising the central financial institution, the prime minister mentioned {that a} “record” enhance was witnessed in remittances. “Account surplus has eased pressure on the rupee.”

The launch was attended by State Bank of Pakistan Governor Dr Reza Baqir as properly.

The Raast is Pakistan’s first prompt fee system that may allow end-to-end digital funds amongst people, companies, and authorities entities instantaneously, in keeping with SBP’s web site.

The sooner fee system can be used to settle small-value retail funds in real-time whereas on the identical time present low-cost and common entry to all gamers within the monetary trade together with banks and fintech.

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