Atif Mehmood | Published August 23, 2025
The author is deeply interested in social and political issues, focusing on analyzing their impact on society and policy development. It is to be noted that the opinions articulated herein are exclusively the author’s own and do not reflect the views or stances of the author’s employer or those of Pakistan Chronicles Online. For correspondence, the author may be contacted at atif@live.ie.
Let’s be honest. Most people in Pakistan don’t spend their time thinking about how currency works. As long as it buys bread, pays bills, and makes rent, it’s fine. But now something big is quietly taking shape. And it could change the way every Pakistani deals with money.
We’re talking about a digital rupee. Not an app. Not a bank. A real currency, backed by the State Bank, that lives inside your phone instead of your wallet. It sounds futuristic. Maybe even suspicious to some. But the pilot has already started. And it’s worth paying attention.
This isn’t just about going cashless or catching up with the world. It’s about trust, dignity, and making the financial system more accessible to people who have always been left out of it. Imagine a labourer in Bahawalpur getting his full daily wage directly into his phone. Or a woman in Gilgit selling handmade shawls and receiving payments without stepping into a bank. That is the promise.
And here’s the thing. Pakistan isn’t going into this blind. The economy has started to breathe again. Inflation, which had everyone on edge last year, has come down. It’s now around 3.2 percent. Interest rates have dropped too. Our foreign reserves have gone above 14 billion dollars, which isn’t perfect but is a lot better than where we were. All this creates the kind of breathing space you need before you try something new.
So yes, the timing makes sense. The central bank has partnered with a Japanese tech firm called Soramitsu. They’re using a system that doesn’t even need constant internet. That matters. Because if you’ve ever tried using mobile data in rural Sindh during load shedding, you know what I mean.
Now, let’s talk about what this digital rupee could actually do for people.
First off, cost. Pakistan spends a staggering amount printing and moving physical cash. That money could be saved or spent somewhere more useful. Imagine investing it into better schools or hospitals.
Second, speed and transparency. Welfare payments could go straight into people’s hands. No waiting. No agents taking a cut. Just a clean transfer. Same with overseas remittances. A brother working in Dubai could send money home. His family could use it within minutes. No line. No loss.
Third, inclusion. Millions of people in Pakistan still don’t have a bank account. They work hard. Save cash under their mattresses. And remain invisible to the financial system. This digital currency could pull them in. Not with paperwork and red tape. But through simple apps and text-based tools they already use.
But hold on. Let’s not romanticize this.
There are real concerns too. Privacy is a big one. If people think the government will be able to track every rupee they spend, they won’t use it. Trust is fragile. One misstep and the whole system could collapse before it even takes off. That’s why data protection has to be more than a paragraph in a policy document. It has to be guaranteed. And it has to be explained in a way people understand.
Banks also need clarity. Will this digital rupee replace them? Or work alongside them? If they feel threatened, they’ll push back. That could stall progress. Ideally, they should be part of this new system. Helping it grows. Not fighting it from the sidelines.
So, what needs to happen now?
Honestly, the answer isn’t more meetings in Islamabad. It’s real-world demos. Let people try it. Go to a small town. Set up a stall in a busy market. Let a fruit seller send money to his wholesaler using his phone. Let a teacher pay for electricity tokens without standing in line. Let people see how it works. Not just hear about it on the news.
And please, no complicated tech jargon. Keep it human. Explain it like you would to your grandmother. Because if she can use it, anyone can.
We also need honesty. If something doesn’t work during the pilot, admit it. Fix it. Talk about it publicly. People respect transparency far more than perfection. And for once, let’s not hide mistakes behind buzzwords.
Let’s also start small. Don’t try to replace everything at once. Focus on things that matter. School fees. Utility bills. Small business payments. Make sure it’s safe. Make sure it’s easy. That’s how trust builds. One transaction at a time.
And here’s a thought. Don’t make this a rich man’s tool. Make it work offline. Make it work on cheap phones. Make it multilingual. That’s how it becomes a people’s currency. That’s how it earns its place.
Look, this isn’t about copying China. Or competing with India. It’s about making a system that fits Pakistan. Our people. Our challenges. Our hopes. The kind of system where your money is truly yours. Fast. Fair. Free from middlemen.
It’s easy to be cynical. We’ve seen too many ideas get lost in paperwork or politics. But this one could be different. If it stays grounded. If it stays honest. If it actually listens to the people, it’s supposed to help.
Because in the end, the digital rupee isn’t really about tech. It’s about fairness. It’s about letting a woman in Khuzdar send her daughter to school without worrying about losing her bus fare to some corrupt agent. It’s about helping a young freelancer in Lahore get paid on time. And spend that money without hidden fees. It’s about making money work better for the people who earn it.
And that is worth trying for. So, let’s walk into this with our eyes open. With some hope. Yes. But also, with questions. The kind that ordinary people ask. Will it be safe? Will it work without internet? Will I lose money if my phone breaks?
Ask all of it. Every question is valid. And every answer needs to be real. Because if this works. Really works. It won’t just change how we pay. It might change how we feel about the system itself.
And that would be something new. Maybe even something we’ve been waiting for.
Reprinted with courtesy of MinuteMirror. All rights reserved.
https://minutemirror.com.pk/pakistans-quiet-revolution-428121/
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