Government Announces Plan to Open Bank Accounts
The government announced a plan to open bank accounts for recipients of the Benazir Income Support Program. The move, which affects those receiving financial assistance under the social welfare scheme, is part of a broader government policy initiative. BISP, designed to provide financial assistance to low-income families, has been a key part of the government’s efforts to eradicate poverty.
However, the recent decision to freeze the accounts of beneficiaries could have significant consequences for those who rely on this assistance for their daily needs. Further clarification and updates regarding the suspension and possible resolution of this matter expected to emerge. For now, beneficiaries left uncertain about the immediate impact on access to the financial assistance they rely on.
Briefing the committee, the Secretary Income Support Program said that a bank account will opened for each user, after which the beneficiaries will be able to withdraw money from bank branches. This will a great success. The first pilot project is going to launched in urban areas for opening bank accounts for beneficiaries, which will last for 3 months. The Secretary said that we are working on facilities for receiving money from other banks for the users. We are trying to ensure that Benazir Income beneficiaries can withdraw money from any bank.
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Benazir Income Support Program
The Benazir Income Support Program is a major social welfare initiative launched by the Government of Pakistan. And Provide financial assistance and social protection to the economically vulnerable populations of country. Named after former Prime Minister of Pakistan Benazir Bhutto. The program launched in 2008 as a response to the rising poverty levels and income inequality in Pakistan. The primary objective of BISP is to eradicate poverty, support marginalized groups, and reduce social disparities across the country.
The program aims to provide direct financial assistance to low-income families, especially women, to help them meet basic needs such as food, healthcare, and education. It offers a safety net for those who are at risk of falling deeper into poverty due to unforeseen circumstances, such as job loss, illness, or natural disasters. BISP specifically targets women in low-income households, providing them with cash transfers to enhance their economic independence and decision-making power.
The BISP program ensures the registration of people who fulfill the eligibility criteria. Those who want to register in this program should first complete the eligibility criteria of this program and then register in this program. This program aims to assist the poor section of the country. Those who are poor and are facing more problems can get rid of all their problems by registering for this program and receiving financial assistance.
Launch of Special Cards
BISP officials briefed the committee that 130,000 women beneficiaries of Benazir Income whose thumbs do not work will be issued special cards in January. The Benazir Income Support Program is ready to introduce special cards to expand its service delivery to eligible beneficiaries. Only those individuals and women who have special cards will be able to receive financial assistance from the Benazir Income Support Program. These cards will be issued to low-income individuals and families who are part of BISP’s assistance programs. The special cards designed to streamline the distribution of financial assistance. To ensure faster, more efficient, and transparent transfer of funds. Beneficiaries will be able to use these cards to access their financial assistance at authorized outlets or ATMs, making the process more convenient and secure. The move aims to improve the overall effectiveness of the program and better support the livelihoods of the needy.
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Branches Description
On the issue of disbursing money to beneficiaries, the officials said that all banks have a total of 17,000 branches across the country. However most of these branches are in cities, while most of the beneficiaries of the program belong to villages, so there will be difficulties. Income Support Program officials suggested that the money should continue to disbursed through point-of-sale agents. On this, Chairman Committee Mir Ghulam Ali said that anything that has a human touch becomes a mess, and the Benazir Income system should automated. The program is primarily designed to alleviate poverty offering direct cash transfers to the most vulnerable sections of the population. Over time, BISP has expanded its scope to include various services and initiatives to further help improve the socio-economic condition of the beneficiaries.
Open Bank Account
The Secretary Income Support Program said that a bank account will opened for each user. After which the beneficiaries will also be able to withdraw money from bank branches. It will be a great success that the first pilot project is going to start in urban areas regarding opening bank accounts of beneficiaries, which will last for 3 months. The Secretary said that they are working on facilities for collecting money from other banks for the users. Our effort is that Benazir Income beneficiaries can withdraw money from any bank. Those who are benefiting from the Benazir Income Support Program will now open their bank account. And through this, they will go to any bank and withdraw the money from the BISP program.
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