BISP opens 10 million accounts to combat poverty

ISLAMABAD: The Benazir Income Support Programme (BISP) has successfully opened ten million bank accounts for its beneficiaries.

These accounts are currently dormant, according to the reports, and will be activated the moment payments are to be dispatched to the beneficiaries.

In a recent National Assembly Standing Committee meeting, chaired by MNA Lamm Ali Talpur on poverty alleviation, the authorities unveiled before members BISP’s banking link-up progress.

Currently, six banks are in partnership with BISP, and an attempt is being made to link all banks through the One-Link system to make transactions easy.

The State Bank of Pakistan’s Deputy Governor affirmed that the BISP recipients have access to withdraw money from any functional bank, with full access to regular banking facilities, such as remittances and deposits.

Beneficiaries will be charged bank withdrawal fees ranging from Rs 100 to Rs 200, depending on the bank and mode of transaction.

Primarily, this process shall not involve any agent to maintain transparency and minimize misuse.

The Chairperson of BISP emphasized that digital payments remain a challenge, particularly for female beneficiaries.

The Secretary BISP updated the committee that, as per the direction of the Prime Minister, one crore accounts have been opened in four months.

The second phase shall be done in six months, in which digital transactions will be adopted.

BISP has launched a new method of payment in 2025. Now, beneficiaries will receive Rs. 13,500 directly in their bank accounts without any additional charge or deductions by agents.

This campaign is intended to benefit women and bring financial inclusion across Pakistan.