ISLAMABAD: In the backdrop of declining poverty, Benazir Income Support Programme (BISP) has been able to open ten million bank accounts of its beneficiaries,
These accounts are currently dormant, and as soon as payments are due to be released to the beneficiaries, these will be made active, the reports added.
At a recent Standing Committee meeting of the National Assembly, presided over by MNA Lamm Ali Talpur on eradication of poverty, the authorities provided members with an overview of BISP’s banking integration progress.
Currently, six banks are in partnership with BISP, and work is underway to link all banks through the One-Link system to simplify transactions.
State Bank of Pakistan Deputy Governor upheld that BISP beneficiaries now have the option to withdraw cash from any functional bank, with full access to regular banking facilities, such as deposits and remittances.
Beneficiaries will, however, be required to pay bank withdrawal fees ranging between Rs 100 and Rs 200, depending on the bank and mode of payment.
BISP sets up 10 million accounts in the battle against poverty
For the most part, this will be agent-less to promote transparency and minimize misuse.
The Chairperson of BISP pointed out that digital payments remain a challenge, particularly among female beneficiaries.
The BISP Secretary informed the committee that, as per the Prime Minister’s instruction, one crore accounts in four months have been opened.
The second phase is expected to be completed in six months, where digital transactions will be introduced.
BISP has launched a new method of payment in 2025. Now, Rs. 13,500 will be deposited directly into the bank accounts of beneficiaries without any additional fee or deduction by agents.
This scheme is aimed at empowering women and ensuring financial inclusion across Pakistan.
Read More: BISP Dynamic Survey: Registration process and guidelines
Previously, Benazir Income Support Program (BISP) initiated a dynamic survey to increase its coverage to 10 million poor families in Pakistan.
The move is intended to provide financial support to deserving families through a hassle-free and open registration process.
