Pakistan

BISP Kafaalat initiative: Check eligible banks for cash withdrawal

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Staff Reporter

2 years ago

LAHORE: The Benazir Income Support Programme (BISP) is providing cash assistance to approximately nine million families across Pakistan, including Punjab, under the Benazir Kafaalat initiative.

This initiative, launched in 2008, has become the largest single cash transfer program in Pakistan’s history.

Its primary objectives are to protect marginalized individuals from the adverse effects of inflation, food crises, and economic stagnation in the short term, and to eradicate extreme poverty and empower women in line with the Sustainable Development Goals (SDGs) in the long term.

Currently, the government provides quarterly assistance of Rs10,500 to each deserving family, with plans to increase this amount to Rs12,500 from January 2025.

The program has already benefited over 9.3 million families nationwide and aims to expand its reach to 10 million families by next year.

To facilitate smoother transactions, the government has expanded the list of banks for BISP Kafaalat installment withdrawals in Punjab.

Initially, citizens faced long queues at Habib Bank Limited (HBL) to receive their cash assistance. Now, eligible families can withdraw Rs10,500 from various banks, eliminating the need for lengthy wait times.

Eligible Banks for Withdrawals

Now eligible families can withdraw the cash assistance of Rs10,500 from the following banks:

Bank Al Falah
Bank of Punjab
Mobilink Microfinance/Jazzcash
Telenor Microfinance Bank
Habib Bank Limited
HBL Microfinance

For more information on the Benazir Income Support Programme and its initiatives, you can visit their official website or contact their helpline at 0800-26477.

Staff Reporter