A. Background

1. This refers to the following Important BFIC in trail, blue, italic and after double line (a) 331 of 23.9.25 about Enhancing Digitization Initiatives in Banks -SBP (b) 326 of 11.9.25 about Digital Payment across Regulated Sectors adoption by 31.10.25 (c) 310 of 4.4.25 Digital Payment Oct to Dec 2024 rising trend continue 

2. We also refer to several Other BFICs (earlier BFQCs) including (a) 279 of 13.12.24 about SBP Digital Payments via Mobile Apps Customer Notifications (b) 246 of 16.1.24 Digital Payment Rising Trend-SBP 30.9.23 Report (c) 272 of 5.6.24 about SBP State of Pakistan’s Economy FY July 2024 Dec 2024 (d) 243 of 4.1.24 about SBP GAR Fiscal Year 2022-23 (e) 238 of 11.12.23 about DPC Annual Report Year 2022-23 for Depositors

B. Updated Commentary

1. Further to KQU 3652 of 15.11.25, being an Important matter, we would inform you about the Video of City 21 News QR Code Plan for all shopkeepers (Attachment 3349.1).

2. The government is introducing a new law for shopkeepers, buyers, and business owners under which rewards and penalties will apply for not using QR payments. This system has already been implemented in Islamabad, and the federal government has contacted the Punjab government to introduce a cashless payment system in order to make Punjab a cashless province. The cabinet has approved this measure.

3. Now, for purchasing even the smallest items from any shop, it will be mandatory for the shopkeeper to offer QR payment. The federal government has reached out to the provinces, and the Punjab government has given a briefing and held a meeting chaired by the Provincial Finance Minister. The cabinet has approved the enforcement of QR payments in the province. If any shopkeeper or business owner does not display QR payment, action will be taken against them.

4. A meeting regarding QR expenses and amendments was held on 2.10.25, where suggestions for this law were presented. The purpose of this system is to promote digital payments. Although many shops and restaurants in Punjab already have QR payments available, implementation has not been effective.

5. To strengthen the payment system and electronic fund transfer, amendments are necessary to give QR payments legal status. If any shopkeeper or business owner does not display the QR code, the government may impose a fine of up to Rs 200,000. Non-compliance by traders or business persons will be considered a punishable offense, and action will be taken against them. This offense will be non-bailable, and arrest can be made on the complaint of an authorized officer. Any citizen can call the concerned officer and lodge a complaint if a QR code is not displayed.

6. The government will adopt a phased strategy for implementing this policy first in major cities, then smaller towns, and finally rural areas. In each phase, traders will be provided awareness, training, and technical support. Implementation in major cities will be ensured, and PRA will be assigned this task.

7. The government will offer free bank accounts, which will be automatically issued through Raast ID. Facilities for displaying QR code stands will also be provided. Traders will receive training through market camps and helplines.

8. The use of QR codes will not only make transactions easier for consumers but will also ensure transparency, speed, and security for traders. It will help expand the tax net, curb black money, and strengthen the economy. Small shopkeepers and street vendors will not be included at this stage, but if they understand the system, they may also display QR codes.

9. In China, even beggars can be seen carrying QR codes. Displaying a QR code at your shop or outlet even at petrol pumps will be mandatory. If you fail to do so, the government will take action and impose a fine of up to Rs. 200,000

C.   Further Details & Services

Should you require any clarification or explanations in respect of the above or otherwise, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com.

Best regards for Here & Hereafter

Asif S Kasbati (FCA, FCMA & LLB)

Managing Partner

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

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