PR and ABL sign MoU to install modern POS systems at 348 railway stations to make ticketing, payment and financial affairs modern, transparent, and automated
LAHORE: Federal Minister for Railways Muhammad Hanif Abbasi on Thursday, while reaffirming commitment to promoting transparency and accountability, stated that they are going to completely digitalize Pakistan Railways as per the Prime Minister’s Digital Pakistan vision.
“Now passengers will not only be able to buy tickets through credit or debit cards but will also be able to easily pay for other railway services, which will reduce dependence on cash. Thanks to POS systems, queues and manual work will be reduced, and business transactions will be faster, safer, and more efficient,” Minister Hanif Abbasi declared.
The railways minister was presiding over and addressing the signing ceremony of the Memorandum of Understanding (MoU) between Pakistan Railways and ABL Bank.
An important ceremony to sign a Memorandum of Understanding (MoU) between Pakistan Railways and Allied Bank Limited (ABL) was held in Islamabad. Under this agreement, modern Point of Sale (POS) systems will be installed at 348 railway stations of Pakistan Railways, which aim to make ticketing, payment, and financial affairs modern, transparent, and automated.
The railways minister continued that Pakistan Railways and ABL Bank are working together as a team, and our goal is to transform Pakistan into a modern, welfare, and developed state. “This project will be completed in the next 60 days, and we will complete it with full seriousness and dedication,” he reiterated his resolve.
Abbasi emphasized that real-time monitoring of railway revenue will be possible, which is an important milestone in promoting transparency and accountability. “Along with this, thanks to POS systems, the chances of financial fraud, theft, and accounting errors will also be significantly reduced,” he added.
He said that under ABL’s merchant services, food stalls, kiosks and other small vendors at railway stations will also be able to accept digital payments, which will bring small businesses into the formal financial system and give them access to banking facilities. This initiative is an effective step towards promoting financial inclusion, promoting a cashless economy and promoting digital culture at the grassroots level.
The agreement was signed by Director IT, Mr. Ali Raza, on behalf of Pakistan Railways and Farrukh Zeb Khan (Unit Head Digital Banking) on behalf of Allied Bank.
The ceremony was attended by the top leadership of Pakistan Railways, including Chairman Syed Mazhar Ali Shah, Chief Executive Officer (CEO) Aamir Baloch, and DS Rawalpindi Nooruddin, while all Divisional Superintendents (DSs) participated online through video link.
