Benazir Income Sustain Program is Pakistan’s most popular organization that works to improve the lives of women in society by providing financial assistance so that they may sustain their families. To expand this program, Chairperson Rubina Khalid announced the enrollment of 700,000 additional beneficiaries, and to ensure program integrity, she announced the engagement of six new banks with BISP beginning with the next installment.
She stated that the BISP has established a new banking system to make providing funds to deserving women easier.
BISP New Banking System – Payments Will Be Given From 6 More Banks
Speaking to the media in Mardan, Rubina Khalid announced that a new banking system will be introduced to the beneficiaries so they can receive their payments without any deductions. This time, they are contracting with six more banks rather than one, so that all beneficiaries can receive their monthly installments without delay or deduction.
According to Rubina Khalid, the BISP has created a new financial system that allows for the payment of funds to deserving women while leveraging the services of up to six institutions.
List of Six New Banks To be Added For Payments
The following banks have been contracted to manage payment distributions:
Banks include Al Falah, Bank of Punjab, Mobilink Microfinance, Telenor Microfinance Bank, Habib Bank Limited (HBL), and HBL Microfinance.
| Key Points | Details |
|---|---|
| Program Expansion | 700,000 new beneficiaries added. |
| New Banks | Payments via six banks to avoid delays and deductions. |
| Six Banks | Al Falah, BOP, Mobilink, Telenor, HBL, HBL Microfinance. |
| Impact | 9.5 million families to benefit. |
Scope Of BISP Program Being Expanded – Chair Person Rubina Khalid
Senator Rubina Khalid, chair of the Benazir Income Support Program (BISP), has stated that President Asif Ali Zardari’s directions are being followed to broaden the program’s coverage.
She stated that the program benefits 9.3 million deserving families and that international organizations such as the World Bank and the Asian Development Bank have recognized the BISP’s transparency. She goes on to say that the Benazir Kafalat Program will now help over one crore people.
Why Payments Will Be Given Through New Banks
BISP is partnering with six banks to optimize the payment procedure under its new payment model to reduce POS agent complaints.
The scheme only used two banks, and their contracts had expired several years ago. However, this expansion allows additional banks to provide their services, increasing transparency. The Benazir Income Support program implemented this significant modification to better assist recipients and make money distribution more transparent.
Conclusion
The relationship between the Benazir Income Support Programme and six new banks represents a big step forward in terms of payment distribution transparency and efficiency. This approach not only ensures that 9.5 million recipients receive timely and full payments, but it also broadens the program’s reach to help more needy families across Pakistan.