Pakistan PM meets Bill Gates in New York, discusses challenges to anti-polio drive after floods

A health worker administers polio vaccine drops to a child during a door-to-door polio vaccination campaign in Lahore on August 22, 2022. (AFP)
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Updated 23 September 2022
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Pakistan PM meets Bill Gates in New York, discusses challenges to anti-polio drive after floods

  • Gates Foundation will continue to collaborate with government to ‘prevent the disease from re-establishing itself in Pakistan’s major cities’
  • The country reported more than 10 poliovirus cases in northwestern tribal districts during the course of the year even before the floods

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday met American business tycoon and philanthropist Bill Gates in New York to discuss emerging challenges to the anti-polio campaign in Pakistan in the wake of the recent floods which have claimed nearly 1,600 lives and displaced more than 33 million people.

The American entrepreneur and founder of Microsoft also co-chairs the Bill & Melinda Gates Foundation which has been helping Pakistan eradicate the crippling disease that affects brain and spinal cord while causing irreversible paralysis among young children.

Pakistan has already reported more than 10 polio cases in the country’s northwestern tribal districts since the beginning of the year.

The recent floods are also likely to impede the vaccination drive to immunize children against the wild poliovirus since they have displaced a chunk of Pakistan’s population and put its health care system under tremendous strain.

“The Prime Minister and Mr. Gates discussed that [polio] eradication efforts were facing a challenging situation because of the floods, especially after a recent rise in the number of wild polio cases,” said a statement issued by the PM Office after the meeting. “The Prime Minister reaffirmed the government’s resolve to pursue the campaign relentlessly.”

Gates agreed to continue his organization’s collaboration with the government to “prevent the disease from re-establishing itself in Pakistan’s major cities.”

The prime minister told the American entrepreneur how his administration used the “robust infrastructure” of the polio program to implement its flood response by deploying the surveillance system to monitor malaria, dengue and other water-borne diseases and providing life-saving vaccines to children.

Gates affirmed his organization would continue its current support including the disaster relief efforts in flood-affected areas of Balochistan and Sindh provinces.

The prime minister pointed out the need to prioritize maternal and newborn care in flood-hit regions while thanking Gates and his foundation for supporting Pakistan’s relief efforts.


Pakistan issues over $7 billion sukuk in 2025, nears 20 percent Shariah-compliant debt target

Updated 29 December 2025
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Pakistan issues over $7 billion sukuk in 2025, nears 20 percent Shariah-compliant debt target

  • Finance Adviser Khurram Schehzad says this was the highest-ever Sukuk issuance in a single calendar year since 2008
  • Pakistan’s Federal Shariat Court ordered in 2022 the entire banking system to transition to Islamic principles by 2027

ISLAMABAD: Pakistan’s Finance Adviser Khurram Schehzad on Monday said the country achieved a landmark breakthrough in Islamic finance by issuing over Rs2 trillion ($7 billion) sukuk this year, bringing it closer to its 20 percent Shariah-compliant debt target by Fiscal Year 2027-28.

A sukuk is an Islamic financial certificate, similar to a bond, but it complies with Shariah law, which forbids interest. Pakistan’s Federal Shariat Court (FSC) had directed the government in April 2022 to eliminate interest and align the country’s entire banking system with Islamic principles by 2027.

Following the ruling, the government and the State Bank of Pakistan (SBP) have undertaken a series of measures, including legal reforms and the issuance of sukuk to replace interest-based treasury bills and investment bonds.

“In 2025, the Ministry of Finance (MoF) through its Debt Management Office, together with its Joint Financial Advisers (JFAs), successfully issued over PKR 2 trillion in Sukuk,” Schehzad said on X, describing it as “the highest-ever Sukuk issuance in a single calendar year since 2008 by Pakistan.”

Pakistan made a total of 61 issuances across one-, three-, five- and 10-year tenors, according to the finance adviser. The country also successfully launched its first Green Sukuk, a Shariah-compliant bond designed to fund environment-friendly projects.

He said the Green Sukuk was 5.4 times oversubscribed, indicating investor demand was more than five times higher than the amount the government planned to raise, which showed strong market confidence.

“The rising share of Islamic instruments in the government’s domestic securities portfolio (domestic debt) underscores strong momentum, growing from 12.6 percent in June 2025 to around 14.5 percent by December 2025, clearly positioning the MoF to achieve its 20 percent Shariah-compliant debt target by FY28,” Schehzad said.

“This milestone also reflects the structural deepening of Pakistan’s Islamic capital market, sustained investor confidence, and the strengthening of sovereign debt management.”

He said Pakistan was strengthening its government securities market by making it more resilient, diversified, and future-ready, supported by a stabilizing macroeconomic environment, a disciplined debt strategy, and a clear roadmap for Islamic finance.