Prime Minister Imran Khan has said the 'Raast' initiative will help boost formal economy, financial inclusion of women, and eradicate poverty from the country.

Addressing the launching ceremony, of Pakistan's first instant Digital Payment System 'Raast' in Islamabad, the Prime Minister said cash economy is the biggest hurdle in tapping true potential of 220 million population of Pakistan and the initiative will take country to digital economy.

He said cash economy badly affects tax collection, which is evident from the fact that only two million out of 220 million people are tax filers.

He said digital Pakistan is a step forward from cash economy towards the point, where we can take maximum benefit of the potential of our 220 million population.

The Prime Minister congratulated State Bank of Pakistan for working on this initiative of 'Raast' and bank efforts for engaging overseas Pakistanis in convincing them to send remittances through formal channels.