Govt Orders Third-Party Audit of Cashless Economy Project

The Government of Pakistan has announced a third-party audit of its flagship Cashless Economy Project, aiming to ensure transparency, efficiency, and proper financial management across all phases of the program.

According to the Ministry of Information Technology and Telecommunication (MoITT), independent audit firms have been invited to evaluate the initiative’s implementation, performance, and financial accountability. The audit will examine how resources have been used, the pace of progress, and whether key national objectives of the cashless program are being met.

Audit Scope and Process

Officials confirmed that the review will cover the project’s entire lifecycle  from planning and expenditure to governance and results. The selected auditing firm will deliver its findings in several phases, beginning with an inception report, followed by interim evaluations, and finally a comprehensive report outlining recommendations for improvement.

The ministry said the primary purpose of this audit is to ensure that Pakistan’s transition toward a digital and cashless economy remains transparent, secure, and inclusive.

Significance of the Initiative

Launched as part of the government’s digital transformation agenda, the Cashless Economy Project seeks to reduce the reliance on physical currency, encourage digital payments, and improve financial inclusion. Authorities hope the system will curb corruption, minimize leakages, and promote ease of doing business nationwide.

Officials added that the third-party audit will help highlight operational weaknesses, strengthen coordination between banks, telecom operators, and regulatory bodies, and guide the next phase of digital policy reforms.

Reactions from Industry Experts

Digital finance experts and technology analysts have welcomed the move, calling it a timely and necessary step to reinforce credibility in Pakistan’s digital payment infrastructure. They believe the audit will provide valuable insight into both the successes and shortfalls of the program, allowing the government to make data-driven improvements.

However, industry observers also pointed out challenges such as limited internet access in rural regions, low adoption rates among small merchants, and the need for better public awareness campaigns to expand digital literacy.

The government’s decision to initiate a third-party audit reflects its growing commitment to accountability and transparency in digital governance. If the review is executed effectively and its findings implemented, Pakistan could accelerate its journey toward a more efficient, inclusive, and corruption-free digital economy.

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