Benazir Social Protection Account New BISP payment method

Benazir Social Protection Account – New BISP Payment Method

ByParho Pakistan

Benazir Income Support Programme, commonly known as BISP is providing financial assistance to poor and needy families for 15 years. BISP was launched by the PPP Government in July 2008. Usually, BISP beneficiaries receive their cash amount from designated banks and BISP Tehsil offices.

There are hundreds of people in a queue to receive their cash through a manual process which could result in fraud in cash receiving.

Recently a few days ago Prime Minister Mr Shehbaz Sharif inaugurated the ” Benazir Social Protection Account” which is a new transparent payment method to receive the BISP amount.

Federal Minister for Poverty Alleviation and Social Safety (PA&SS) and Chairperson Benazir Income Support Programme (BISP) Ms Shazia Marri said that this new payment system will give autonomy to women in selecting the bank of their choice.

The payments will be directly made into their accounts which beneficiaries can withdraw at their convenience, she added. She informed the audience that four banks namely National Bank, Bank Alfalah, JS Bank Limited, and United Bank Limited have been initially selected through a competitive process for the new payment model i.e. “Benazir Social Protection Account”.

While addressing the ceremony, she acknowledged the visionary role played by the late Shaheed Mohtarma Benazir Bhutto, who dreamt of this social protection programme, and former President Asif Ali Zardari, who established it in 2008. BISP is a non-political programme committed to providing financial assistance to deserving women on an equal and merit basis.

Through this new method, beneficiaries can withdraw their amount at any time from designated banks. In the near future, ATM cards will also be issued.

Ms Marri said that the BISP budget was increased from Rs. 235 billion to Rs. 404.2 billion, with an overall increase of 72% taking the number of beneficiaries from 7.2 Million to 9 Million, which is a testament to the current coalition government’s commitment to protecting the most vulnerable and marginalized segment of our society. Furthermore, the number of families eligible for BISP has risen from 7.6 million to 9 million in the last year.

In 2022, a scholarship program with the name of BISP Taleemi Wazaif Programme has been initiated to provide stipends to the children of beneficiaries women. The number of children benefiting from Benazir Taleemi Wazaif rose from 2.6 million in 2022 to 7.52 million in 2023. The Benazir Undergraduate Scholarship Programme awarded 82,000 scholarships in 2022, which increased to 92,003 scholarships this year.

BISP also extended the support programme to the transgender community, which is the first time in the history of Pakistan.

Authorized Banks for Benazir Social Protection Account

  • United Bank Limited UBL
  • JS Bank
  • National Bank
  • Bank Alfalah
Benazir Social Protection Account - BISP New payment method

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