Tripartite Digital Evolution: SBP Makes Suggestions to Develop an e-Economy

State Bank of Pakistan (SBP) has envisioned the way forward with Tripartite Digital Evolution to develop an e-economy. Cellular and broadband services providers, Informational Technology and Fin-Tech firms can join hands to develop the environment.

SBP, in its quarterly report issued on April 7, published a special article “Tripartite Digital Evolution” highlighting the importance of an electronic (E) economy. The central bank says that mobile phone penetration and broadband subscriptions are on the rise in Pakistan. Keeping in view the growing importance of cellular operators, software developers, and emerging FinTech firms, the government revamped its digital policy in 2017.  The basic objectives are:

  1. to harness the rapidly expanding telecom network to reduce regional digital disparities;
  2. to help modernize the  procurement and payment systems in the economy and make them efficient (by increasing financial inclusion through alternative and innovative channels); and
  3. to improve access to health and education facilities in remote and underserved areas of the country (via mobile internet).


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Telecom, software, and FinTech players are envisioned to triangulate their efforts to generate value addition in the economy in four major sectors, including Governance, Agriculture, Health and Energy.

A senior official of SBP told ProPakistani that Cellular and broadband companies have already improved connectivity. IT data center clusters, integration of head and tail systems with the centralized database, G-Cloud provision for security and resilience, building information portals, revamping GIS, and smart grids are not under development. SBP states that there is a need to develop more smart portals and apps to support further evolution.

After development and connectivity of portals and apps, the work of Fin Tech companies will become easier.