Pakistan’s home-grown payment platform NayaPay gets nod from central bank

Updated 30 September 2019
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Pakistan’s home-grown payment platform NayaPay gets nod from central bank

  • NayaPay will enable Pakistanis to open e-money accounts and make hassle-free digital payments
  • SBP’s approval will allow NayaPay to commence pilot phase of transactions in a controlled environment

KARACHI: Taking a major step forward in digitally transforming the economy, the State Bank of Pakistan given in-principle approval to NayaPay, a private financial enterprise, to operate as an Electronic Money Institution (EMI), the company announced on Monday.

As an EMI, NayaPay will enable Pakistanis to open e-money accounts and make hassle-free digital payments to each other and to businesses.

NayaPay claims to place great emphasis on customer convenience and has partnered with leading banks and other aggregators to facilitate users with multiple avenues for cash withdrawal, loading and bill payment.

Users will have ready access to their funds through the NayaPay app and associated debit card, accepted at any ATM across Pakistan. They will also be able to pay NayaPay merchants instantly from their mobile phones using secure QR codes.

“E-Money will make financial services simpler, more convenient and accessible to the Pakistani user – the needs of whom have been overlooked for far too long,” said Danish A. Lakhani, CEO, NayaPay. “As a home-grown platform, NayaPay will continue to drive innovation … while strictly following international AML [anti-money laundering] and CFT [combating financing terrorism] guidelines."

The in-principle approval, subject to terms and conditions mentioned therein, allows NayaPay to commence the pilot phase of transactions in a controlled environment and under the SBP’s supervision to seek approval for the commercial launch of its services.


Pakistan considers shifting imported edible oil transport from roads to rail to improve logistics

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Pakistan considers shifting imported edible oil transport from roads to rail to improve logistics

  • The plan includes building a railway station and modern storage facilities at Port Qasim in Karachi
  • Officials say about 100,000 tons of imported edible oil a year could move by rail to major cities

ISLAMABAD: Pakistan is considering transporting imported edible oil from Port Qasim by rail as part of broader logistics reforms aimed at cutting costs, easing traffic congestion in Karachi and improving environmental outcomes, officials said on Tuesday.

The proposal was discussed during a meeting between a delegation from the Ministry of Railways and Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, who said the government was examining plans to establish a railway station and modern storage facilities at the port.

Pakistan currently relies heavily on road transport for moving imported edible oil inland, contributing to congestion, higher fuel consumption and logistics bottlenecks in Karachi. Shifting bulk cargo to rail is part of wider efforts to improve port-linked supply chains and reduce transport inefficiencies.

“Under this project, the transportation of edible oil through railways will help save both time and cost,” Chaudhry said, according to an official statement, adding that the initiative would significantly reduce traffic pressure in Karachi.

Chaudhry said trains carrying edible oil would operate from Port Qasim and Keamari to major consumption and industrial centers, including Multan, Lahore, Faisalabad, Hattar and Peshawar.

He said the project envisages shifting around 100,000 tons of edible oil annually from road to rail, which would also support environmental goals through lower fuel use and reduced transport emissions.

“The railway project will support port-related logistics reforms and bring environmental benefits by promoting efficient fuel use and lowering transportation costs,” Chaudhry said.

The statement said the plan also aligned with broader government efforts to modernize freight transport infrastructure and improve coordination between ports and the railway network.