Pakistan, Feb. 10 -- In an effort to enhance tax documentation and transaction tracking, the Federal Board of Revenue (FBR) has mandated debit and credit card payments for businesses, effectively phasing out cash transactions.

Under the new regulations, all retailers must accept digital payment methods, including debit and credit cards. Additionally, registered retailers are required to maintain comprehensive records of all transactions, particularly those made via card payments. To further ensure transparency, businesses must also implement CCTV monitoring at point-of-sale (POS) terminals.

These measures will be enforced through the following phases:

Retailers must retain transaction records for up to one month and provide them to the...