- Advertisement -
ISLAMABAD, Jun 26 (APP):Federal Minister for Railways Muhammad Hanif Abbasi on Wednesday presided over the signing ceremony of a Memorandum of Understanding (MoU) between Pakistan Railways and Allied Bank Limited (ABL) aimed at introducing modern Point of Sale (POS) systems across the railway network.
Under the agreement, advanced POS systems will be installed at 348 railway stations across the country to modernize ticketing, streamline payment processes, and enhance financial transparency through automation.
Addressing the ceremony, the minister said the initiative is part of the Prime Minister’s vision of a “Digital Pakistan” and will ensure complete digital transformation of Pakistan Railways.
“Pakistan Railways and ABL are working together as a team with the shared objective of transforming Pakistan into a modern, self-reliant, and progressive state,” he said, adding that the project will be completed within the next 60 days.
He said passengers will now be able to purchase tickets and avail of other railway services through credit and debit cards, which would significantly reduce dependency on cash.
He noted that the introduction of POS systems would help eliminate long queues and manual processes, leading to faster and more efficient commercial transactions.
Highlighting the transparency aspect, Hanif Abbasi said the real-time monitoring of railway revenues would be a milestone in ensuring accountability.
He elaborated that the POS systems would also help curtail financial fraud, theft, and accounting errors.
The federal minister further said that through ABL’s merchant services, small vendors such as food stalls and kiosks at railway stations would also be enabled to accept digital payments, allowing them to become part of the formal financial ecosystem.
He termed it a key initiative to promote financial inclusion, cashless economy, and digital culture at the grassroots level.
The MoU was signed by Director IT Pakistan Railways, Mr. Ali Raza, and Unit Head Digital Banking ABL, Mr. Farrukh Zeb Khan.
The ceremony was attended by senior officials of Pakistan Railways including Chairman Syed Mazhar Ali Shah, CEO Amir Baloch, and DS Rawalpindi Nooruddin. All Divisional Superintendents (DSs) joined the event via video link.
From ABL, Group Head Banking Services Faisal Rasheed Ghouri, Group Head Business Sajjad Hussain, and Unit Head Digital Banking Farrukh Zeb Khan were present at the ceremony.