Benazir Income Support Programme New Changings
Government of Pakistan is introducing major changes in the Benazir Income Support Program (BISP). From January 2025, the stipend amount under Benazir Kafalat will be increased from Rs 10,500 to Rs 13,500. The increase is aimed at providing financial assistance to poor families, and the amount will be distributed from February 2025. Moreover, the government has decided that bank accounts will be opened for all beneficiaries so that they can directly withdraw their money from bank branches or ATMs.
Benazir Income Support Program beneficiaries who were not eligible till now will get special cards for biometric data verification which will be issued in January 2025. These beneficiaries will have to update their registration at the nearest BISP office so that they can participate in the new money distribution. With this change, adopting the banking model will increase the efficiency and transparency of the program and facilitate its outreach to people in remote areas.
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Why BISP to Shift the Banking Model?
The decision to shift to a branch banking model comes with the intent of addressing challenges faced in the current system. By opening individual bank accounts for all beneficiaries, the program aims to:
- Eliminate errors in payment distribution.
- Minimize human involvement and ensure transparency.
- Provide beneficiaries direct access to their funds at any bank across Pakistan.
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How the Banking Model Will Transform Benazir Income Support Program Payments
The shift to a banking model under the BISP Kafaalat program is designed to modernize the payment process. Key benefits include:
- Increased Transparency: Direct transfers into bank accounts will reduce human involvement and errors.
- Improved Accessibility: Beneficiaries can withdraw funds from any of the 17,000+ bank branches or ATMs nationwide.
- Ease for Rural Beneficiaries: In remote areas, Point of Sale (POS) agents will continue to provide cash withdrawal services.
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Details of the Pilot Project
The banking-based disbursement model will first be launched as a pilot project.
- Launch Timeline: The pilot project will commence in January 2025 and run until March 2025.
- Target Areas: Initially, the project will focus on urban areas due to better banking infrastructure. Once refined, it will expand to rural areas.
- Bank Involvement: Beneficiaries will be able to withdraw their funds from any bank branch or ATM.
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How Bank Accounts Will Benefit Beneficiaries
This new system offers several advantages to Benazir Income Support Program beneficiaries:
- Access to Multiple Banks: Beneficiaries can withdraw their payments from 17,000+ bank branches nationwide.
- Increased Convenience: No more reliance solely on Point-of-Sale (POS) agents in rural areas.
- Financial Inclusion: Opening bank accounts will bring beneficiaries into the formal financial system, enabling them to use banking services in the future.
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Challenges and Solutions for Rural Beneficiaries
While urban areas will benefit immediately, rural areas present unique challenges:
- Limited Banking Infrastructure: Many rural beneficiaries live far from bank branches.
- Proposed Solution: For remote areas, POS agents will continue to facilitate payments alongside the new system.
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A pressing issue in the current system is the inability of 130,000 women to verify their biometrics. To address this:
- Special cards will be issued in January 2025.
- These cards will allow women to access their payments without needing biometric verification.
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How to Open a Bank Account for BISP Payments
Beneficiaries must follow a straightforward process to open their bank accounts:
- Visit a BISP Tehsil Office: Go to the nearest office to begin the registration process.
- Required Documents:
- Valid CNIC (Computerized National Identity Card).
- Bay Form (for children).
- Mobile number registered with the CNIC.
- Account Opening: After verification, your bank account will be opened, and you will be eligible to receive payments directly through it.
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Conclusion
The transition to the banking model marks a major step forward in improving the efficiency and accessibility of the Benazir Income Support Program. By automating the system and providing individual bank accounts, the government aims to empower beneficiaries with direct access to funds while ensuring transparency in disbursement.
Stay connected with official BISP updates and our website for the latest information regarding this transformative initiative. Beneficiaries are encouraged to complete their registration and prepare for the upcoming changes to ensure seamless access to their payments in 2025.
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