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Islamabad, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Syed Ali Mahmood, Country Lead for Pakistan at the Bill and Melinda Gates Foundation (BMGF), and Waqas ul Hassan, CEO of Karandaaz. The meeting centered on exploring collaboration opportunities and innovative solutions to address key developmental challenges in Pakistan, particularly financial inclusion.
According to Ministry of Finance, Minister Aurangzeb welcomed the representatives, acknowledging the valuable contributions of the Bill and Melinda Gates Foundation and Karandaaz in supporting Pakistan’s development landscape. He emphasized the importance of public-private partnerships in fostering sustainable development and promoting inclusive growth. He specifically appreciated the role of BMGF through Karandaaz in advancing financial inclusion in Pakistan.
Syed Ali Mahmood shared insights from the Bill and Melinda Gates Foundation’s ongoing initiatives in Pakistan, emphasizing financial inclusion and digitalization. He expressed support for the government’s ambition to digitalize the economy, reaffirming BMGF’s commitment to backing Pakistan’s efforts toward achieving its development goals.
Waqas ul Hassan provided an overview of Karandaaz’s role in promoting financial inclusion and entrepreneurship in Pakistan, with a focus on fostering innovation and expanding access to financial services for underserved communities. He highlighted the organization’s contribution to economic empowerment and poverty alleviation.
The meeting addressed potential areas of collaboration between the government, the Bill and Melinda Gates Foundation, and Karandaaz. Discussions centered on leveraging technology and data-driven solutions to overcome development challenges. Minister Aurangzeb reiterated the government’s commitment to creating a supportive environment for innovation and entrepreneurship. The conversation also focused on sustainable growth and management of Raast, connectivity with Buna, and digitalization of the tax system as critical initiatives for collaboration.
Furthermore, the importance of revitalizing the National Financial Inclusion Strategy (NFIS) was highlighted, with the aim of promoting financial inclusion and expanding access to financial services across the country. The minister emphasized the need to renew focus on the strategy’s objectives, including increasing access to formal financial services, expanding branchless banking and mobile financial services, and promoting financial literacy and consumer protection.
The meeting concluded with a commitment from all parties to collaborate on efforts to foster a more inclusive and resilient financial ecosystem in Pakistan. The outcome aimed to bring together government and private sector stakeholders to drive sustainable development and support economic growth.