Gates Foundation backs Pakistan's cashless drive, reform push

September 10, 2026 (MLN): The government has apprised the Gates Foundation of significant progress on Pakistan's digital transformation agenda, with active merchants on digital payments rising from 0.5 million to 2.03 million, already surpassing the June 2026 target of 2 million, driven in part by a Rs3.5bn government subsidy on Raast QR that has spurred merchant adoption and behavioural change.

A high-level Gates Foundation delegation, comprising Dr Anita Zaidi, President of the Gender Equality Division, Dr Kalpana Kochhar, Interim President of the Global Policy & Advocacy Division, and other senior officials, called on Bilal Azhar Kayani, Minister of State for Finance and Revenue & Railways, to review progress on the Cashless Pakistan initiative, launched under the Prime Minister's direct supervision, said a press release issued.

The Minister briefed the delegation on the rapid scale-up in digital payments and merchant adoption of Raast QR, along with rising digital transactions, growing digital banking users, and improving financial inclusion, particularly a narrowing gender gap in access to financial services.

He reaffirmed the government's commitment to expanding transparency and efficiency in public payments.

The Gates Foundation delegation endorsed the progress made so far in digitizing Pakistan's economy under the Cashless Pakistan initiative and assured continued support through Karandaaz.

Beyond Cashless Pakistan, the Minister outlined the government's broader economic reform agenda, highlighting the need to document and formalize the economy to strengthen fiscal sustainability.

He highlighted the newly introduced Asaan Tax Scheme for small traders, designed to bring merchants into the formal economy through incentive-based, voluntary registration rather than enforcement alone.

The Minister said the government has set ambitious targets for the current fiscal year to further accelerate the Cashless Pakistan agenda, including deeper merchant onboarding, expanded digitization of government payments, and improved end-user experience on digital payments.

He welcomed the Gates Foundation's continued partnership, including its support through Karandaaz, and responded positively to the prospect of expanding the development agenda through a strategic partnership framework.

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