PM outlines cashless economy plan to Gates Foundation delegation
Prime Minister Shehbaz Sharif urged the Gates Foundation to help expand digital payments, especially for women receiving government assistance, as part of Pakistan’s cashless economy drive.
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Sector Effect
Positive · Buy bias
Digital‑payment push benefits Banks and Technology firms; Buy bias on related tickers.
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Desk call: Buy bias · Positively affected
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Sectors: Banks, Technology — Positive · Buy bias. PSX tickers: IBKL. Digital‑payment push benefits Banks and Technology firms; Buy bias on related tickers.
Full Story
Open on Business Recorder## Government’s cashless push
Prime Minister Shehbaz Sharif told a delegation from the Bill & Melinda Gates Foundation that the government intends to channel financial assistance to women through secure digital channels. The move is aimed at improving transparency, reducing leakages and ensuring timely delivery of aid.
## Role of the Gates Foundation
The Gates team, represented by Kalpana Kochhar and Dr. Anita Zaidi, was thanked for its contribution to the growth of digital payments in Pakistan. Sharif highlighted the foundation’s support in areas such as financial inclusion, polio eradication, healthcare, nutrition and assistance to vulnerable groups.
## Expected benefits
The proposed “Cashless Pakistan” initiative seeks to make everyday transactions easier for citizens while strengthening the efficiency of public systems. By enabling direct digital transfers, the government hopes to empower women economically and enhance overall financial inclusion.
## Broader reform agenda
Digital payments were positioned alongside other priority reforms – food security, maternal and newborn health, poverty reduction and climate‑change mitigation – signalling a holistic governance agenda.
## Future cooperation
The meeting concluded with a pledge to deepen cooperation between Pakistan and the Gates Foundation on expanding women’s financial inclusion and other development objectives.