The State Bank of Pakistan announced the Pakistan Express Clearing System (PECS) in a circular dated October 5. Under the system, cheques will be cleared using images captured by the collecting bank instead of moving physical instruments. Images will pass through clearing house NIFT to the paying bank for processing.

The pilot is scheduled to start on October 15, 2026, with nationwide implementation planned by April 30, 2027. The central bank instructed financial institutions to train staff and inform the public about the process. The circular establishes a rollout timetable for image-based cheque clearing; it does not mean the pilot had already begun.