KARACHI, Jun 23 (APP):Karachi Metropolitan Corporation (KMC) has decided to introduce a fully digital payment system through the Raast system, making KMC the first municipal institution in Pakistan to process all payments through electronic transfers. Mayor Karachi Barrister Murtaza Wahab said that from the new financial year starting from July, all payments to KMC vendors, contractors, and other approved beneficiaries would be transferred directly into their bank accounts, said a …
KMC introduces new digital payment system: Mayor Karachi
KARACHI, Jun 23 (APP):Karachi Metropolitan Corporation (KMC) has decided to introduce a fully digital payment system through the Raast system, making KMC the first municipal institution in Pakistan to process all payments through electronic transfers.
Mayor Karachi Barrister Murtaza Wahab said that from the new financial year starting from July, all payments to KMC vendors, contractors, and other approved beneficiaries would be transferred directly into their bank accounts, said a statement on Tuesday.
He said that the digital payment system would play an important role in promoting transparency, good governance, and financial discipline.
He said that through Raast payments, funds would be transferred to beneficiaries and vendors in a secure, fast, and real-time manner, while eliminating paperwork, manual procedures, and delays associated with traditional payment methods.
The Mayor Karachi said that this initiative was not merely a technological upgrade but a revolutionary step in the municipal financial system, which would make financial monitoring more effective, enhance transparency, and reduce expenses.
He further said that KMC had become the first municipal institution to adopt a cashless financial model in accordance with the approved payment system of the Accountant General Sindh, marking a significant milestone towards the implementation of a modern financial system.
On this occasion, KMC Financial Advisor Gulzar Abro gave a detailed briefing on the features of the project, implementation strategy, and timeline.
