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RIYADH: ������Ƶ’s point-of-sale spending reached SR14.94 billion ($3.98 billion) in the week ending Sept. 6, driven by steady demand for food and beverages, official data showed.

According to the latest figures issued by the Saudi Central Bank, also known as SAMA, POS activity in the food and beverages category stood at SR2.26 billion, down 1.8 percent week on week, but remained the single largest driver of overall spending. 

The total value of POS transactions fell 5.4 percent from the previous week, largely due to a 39.2 percent decline in education-related spending. 

SAMA reported that the total number of POS transactions climbed 2.3 percent to 242.49 million. 

The rising number of POS transactions in ������Ƶ highlights sustained consumer confidence and the ongoing shift toward digital payments, underpinned by the Kingdom’s Vision 2030 reform agenda. 

The push marks a key milestone in the country’s cashless economy ambitions under the Financial Sector Development Program.

Spending in restaurants and cafes came in at SR1.67 billion, a 1.7 percent weekly dip, while transactions at gas stations totaled SR1.08 billion. Outlays for professional and business services reached SR1.05 billion, on par with transportation at SR1.05 billion.

Apparel, clothing, and accessories accounted for SR1.03 billion in POS activity. Healthcare transactions totaled SR930.57 million, while spending on furniture and home appliances stood at SR505.68 million.

The jewelry segment recorded a 6.9 percent weekly rise to SR310.35 million.

Riyadh led all cities with SR5.17 billion in POS spending, though down 5.6 percent from the previous week. Transactions in the capital increased 3 percent to 78.86 million.

Jeddah followed with SR2.11 billion and 28.27 million transactions. In Dammam, spending reached SR737.22 million, while Makkah and Madinah logged SR583.81 million and SR576.84 million, respectively. Al-Khobar recorded SR418.24 million, followed by Buraidah at SR366.23 million, and Abha at SR197.86 million.

The latest data from SAMA indicates that consumer confidence in the Kingdom remains resilient despite global economic uncertainties, providing crucial support to ������Ƶ’s broader economic transformation agenda.

In April, the central bank reported that the total number of non-cash retail transactions reached 12.6 billion in 2024, up from 10.8 billion in 2023, reflecting the continued growth and adoption of electronic payment systems across the country. 

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif has ordered a crackdown on tax evaders and recovery of outstanding dues, Pakistani state media reported on Tuesday, amid the government’s efforts to shore up revenues.

The prime minister issued the directives at a meeting on the Federal Board of Revenue-related matters, during which he called for a public awareness campaign regarding government measures against tax evasion.

Pakistan has lately introduced several reforms to ensure economic stability and to meet structural benchmarks under a $7 billion International Monetary Fund (IMF) program Islamabad secured last year.

The South Asian country has one of the lowest tax-to-GDP ratios in the region, despite a population of more than 240 million, and has often failed to meet its collection targets.

“Shehbaz Sharif asked the FBR to foster a business-friendly environment and ensure the provision of all possible facilities to taxpayers. He also directed the hiring of professionals to identify tax evaders and recover dues from them,” the Radio Pakistan broadcaster reported.

“He stressed the importance of leveraging both FBR’s internal resources and private sector expertise to detect individuals and companies involved in tax evasion.”

In June, Sharif’s government set a record-high tax collection target of Rs14.13 trillion ($47.4 billion) for the fiscal year 2025–26, marking a 9 percent increase from the previous year. Officials say meeting this goal is essential to reducing reliance on external debt and ensuring long-term fiscal sustainability.

Since then, the prime minister has approved modern digital ecosystem for the FBR to increase its collection and the launch of simplified digital tax returns to increase compliance and widen the country’s narrow tax base.

At Tuesday’s meeting, Sharif also asked officials to expedite the completion of an income and sales taxpayer directory, aimed at recognizing and honoring responsible taxpayers.

“Responsible citizens who regularly pay taxes are the backbone of the national economy,” he was quoted as saying. “Acknowledging taxpayers and taking firm action against tax evaders would contribute significantly to broadening the tax base.”