BISP Opens Bank Accounts For 10M Beneficiaries – 8171 Update
Attention all 10 Million Bisp beneficiaries! We have some exciting news for you. You can now say goodbye to long travels and waiting in lines to receive your BISP amount. That’s right, BISP has officially opened bank accounts for all beneficiaries, including the elderly ones.
The BISP Secretary shared this update during a meeting of the National Assembly’s Poverty Alleviation Committee, presided over by Mir Ghulam Ali.
Latest BISP Update: 10 Million Women to Receive Bank Accounts
During the committee meeting, the Benazir Income Support Program BISP officials informed the Standing Committee on Poverty Alleviation and Social Safety about their ongoing pilot project in seven districts, which follows a “beneficiary-centric payment model“. During their session, the committee also discussed reports from the Pakistan Poverty Alleviation Fund (PPAF) and BISP.
کمیٹی کے اجلاس کے دوران، بی آئی ایس پی حکام نے قائمہ کمیٹی برائے غربت کے خاتمے اور سماجی تحفظ کو سات اضلاع میں اپنے جاری پائلٹ پروجیکٹ کے بارے میں آگاہ کیا، جو کہ “مستحقین پر مرکوز ادائیگی کے ماڈل” کی پیروی کرتا ہے۔ کمیٹی نے اپنے اجلاس کے دوران پاکستان پاورٹی ایلیویشن فنڈ (پی پی اے ایف) اور بی آئی ایس پی کی رپورٹس پر بھی تبادلہ خیال کیا۔
Bank Accounts for Hassle-Free Access to Funds
During the announcement, the BISP Secretary highlighted the initiative to establish bank accounts for all beneficiaries, allowing them direct access to funds at bank branches. “This is a significant achievement,” he emphasized. To assess its effectiveness, we will be conducting a three-month trial in urban areas. Our goal is to enable recipients to withdraw their funds from any bank across the country.
The latest approach aims to enhance accessibility and transparency for BISP recipients through streamlining processes and reducing the need for manual methods.
New BISP Cards to Benefit 130,000 Women Starting January 2024
According to BISP officials who briefed the committee, around 130,000 women beneficiaries currently face challenges with thumb verification. To address this issue, special cards will be provided to these women in January.
This necessary alteration will effectively address their concerns, allowing them to easily withdraw the 13500 Cash from their BISP accounts.
Receive Cash Disbursement Through Point of Sale (POS) Agents
Officials highlighted the challenges of transferring payments to bank accounts as they discussed the disparities in banking infrastructure. They pointed out that while most BISP users reside in rural regions, the country’s 17,000 bank branches are mainly concentrated in urban areas.
Authorities suggested utilizing point-of-sale agents as a means to maintain cash payments and alleviate this issue.
Transparency and Efficiency Are Crucial for a Successful System
Chairman Mir Ghulam Ali emphasized the significance of implementing full automation for the BISP system to achieve transparency and efficiency. In his words, modernization of processes is necessary to better cater to beneficiaries and streamline operations.
In Conclusion
In conclusion, the recent announcement from BISP showcases a transformative measure to enhance accessibility, convenience, and transparency in cash distribution for 10 million beneficiaries. This effort also includes a pilot project and the implementation of special cards for women who encounter verification difficulties, demonstrating the program’s dedication to addressing beneficiary obstacles.