Dr. Mirza Nuuman (Economic Expert): It is a very positive development that the government has directed all concerned financial institutions to play their full role in promoting cashless economy in the country. Prime Minister Shehbaz Sharif has great vision for promoting cashless economy in the country. Presently, Pakistan needs to become cashless economy as it may help monitoring of money trail related to money laundering and other suspicious transactions. Actually, cashless economy is need of the hour and it bears numerous benefits as it helps safe and faster remittances’ transactions. Cashless economy also ensures strict monitoring of economic and financial transactions which may help in eliminating corruption from society. Moreover, Rs 10 billion cash in the form of currency notes rotates in our economy every year ans millions are spent on the printing of new currency notes. We find Chinese and Nigerian examples for cashless economy. China uses Wechat mobile phone app for economic transactions. Cashless economy also ensures speedy and exact amount of tax deduction for the government institutions. However we need to have comprehensive mechanism of cyber security to avert scams. We also need to ensure digital literacy for promotion of cashless economy. Our data centers, capacity also needs to be enhanced for smooth operation of cashless economy. South Korea and Philippines also followed two different models for remittances’ utilization. Cashless economy will also cast positive impact on crypto currency related business.