BISP to streamline payments with new bank account system

KARACHI: The Benazir Income Support Programme (BISP) announced a major change in the beneficiary mode of cash disbursement, which will be a direct transfer to bank accounts.

This new mode is expected to improve the transfer of financial assistance from underprivileged communities, as pointed out during the recent meeting of the National Assembly’s Poverty Reduction Committee chaired by Mir Ghulam Ali.

Along with these complaints, BISP authorities have pointed to operational difficulties in transferring funds within the context of over 1.25 lakh unemployed female beneficiaries caused by non-operational thumb impressions.

Therefore, special cards will be distributed to these beneficiaries. However, the distribution of bank branches presents a challenge in itself. Out of 17,000 branches, most are located in urban areas and thus make access for rural people cumbersome.

In this regard, the members of the committee suggested continuing the distribution through Point of Sale (POS) agents. Chairman Mir Ghulam Ali stated the importance of placing such a system on an automated basis since in many cases, human intervention creates lots of problems.

In another move to facilitate this automation, a new three-month project was announced, whereby it would facilitate the future account opening for beneficiaries.

Apart from that, BISP officials are working on a new model whereby the beneficiaries would be able to withdraw money from other banks, establishing a system of inclusive finance and facilitating everybody who is a beneficiary. These changes in BISP are a big step towards improving the lives of its beneficiaries.