Cattle markets in Pakistan: State Bank launches ‘go cashless’ campaign

KARACHI: The State Bank of Pakistan (SBP) has initiated a nationwide “go cashless” campaign to promote digital payments and reduce reliance on cash transactions within cattle markets during the upcoming Eid-ul-Azha.

This strategic initiative, in line with SBP’s goal of fostering digital financial inclusion throughout Pakistan, was officially launched today, May 20, 2025, and will run until June 6, 2025, or Eid night.

In partnership with the banking industry, the campaign aims to streamline the sale and purchase of sacrificial animals in 54 designated cattle markets across the country. Following the success of last year’s digitalization efforts, this year’s campaign seeks to further expand digital adoption among market participants.

Within these cattle markets, digital payment solutions can be utilized for various transactions, including the purchase of sacrificial animals, payment for necessities such as water and feed, and settlement of parking fees.

To support both merchants and buyers during this period, the SBP has temporarily raised transaction limits, effective from May 19 to June 15, 2025, Branchless Banking Level-1 Accounts, Asaan Account/Asaan Digital Account, and Merchant Accounts: Daily transaction limits have been eliminated, and the per-month limit has been increased to PKR 5,000,000.

The public is strongly encouraged to take advantage of these convenient and secure digital financial services during the Eid-ul-Azha period. By participating in the “Go Cashless” campaign, individuals can contribute to a more efficient and inclusive financial ecosystem in Pakistan.

Copyright Business Recorder, 2025