Prime Minister Imran Khan on Tuesday stressed the need for bringing people into the formal economy by using modern tools of digitisation in order to tap the real potential of the country's population.

“We have 220 million population, which is a big market and a big strength for us. If we use these people in the right manner, in a formal economy, with the available modern tools of digitisation it is our biggest strength,” PM Imran said while addressing the launching ceremony Digital Payment System ‘Raast’ in Islamabad.

However, he added if the government did not take advantage from technological advancements then most of the people would remain out of the formal economy and the 220 million people would "become a burden for the country."

The Raast programme is a digital platform developed by the State Bank of Pakistan for remittances and transactions between citizens, businesses and government agencies, according to APP. Moreover, the system would facilitate the common man in accessing banking channels and electronic transactions.

At the same time, the news service added it would help various financial institutions, including banks, microfinance institutions, government agencies and Fintax, to access and connect to the central system at low-cost with time saving.

PM Imran said: "This digital Pakistan is running on a track to make the coutnry’s population a asset, which will happen when they will come into the formal economy." He further called for easing the banking system for the common man, as according to him, people are uncomfortable when "the banking staff in suit speaks in English to them."

He was of the view the mobile friendly facility would provide an ease to the public and stressed the need for followin Finance Minister Shaukat Tarin's "bottom's up" approach to provide facilities benefits at the ground level.

Premier Imran further added that he would evalaute his government's performance after five years on the basis of alleviating poverty.

Elaborating on the Raast facility, he reiterated that it would provide ease to the common man in transfer of money via mobile phone. Secondly, he added it would bring people to formal economy.

He termed the 220 million population of the country as an asset and lamented that only two million people pay taxes out of the total population.

He further termed the nine million overseas Pakistanis as country's "biggest asset" and called for brining ease for them in sending remittances.