10 million bank accounts opened under BISP

ISLAMABAD: In the wake of lessening poverty, the Benazir Income Support Programme (BISP) has successfully opened ten million bank accounts for its beneficiaries, ARY News reported.

According to the reports, these accounts are inactive at the moment and will be activated as soon as payments are set to be sent to beneficiaries.

During a recent meeting of the National Assembly’s Standing Committee, chaired by MNA Lamm Ali Talpur on poverty eradication, authorities presented to members the progress of BISP’s banking integration.

At the moment, six banks are in collaboration with BISP, and efforts are ongoing to connect all banks via the One-Link system to streamline transactions.

The Deputy Governor of the State Bank of Pakistan confirmed that BISP recipients can now withdraw funds from any active bank, having complete access to standard banking services, including deposits and remittances.

However, beneficiaries will have to pay bank withdrawal charges within the range of Rs 100 to Rs 200, depending on the bank and transaction method.

Mainly, this process will have no agent involvement to ensure transparency and reduce misuse.

The BISP Chairperson highlighted that digital payments are still a challenge, especially for female beneficiaries.

The BISP Secretary briefed the committee that, according to the Prime Minister’s directive, one crore accounts within four months have been opened.

The next phase is likely to be completed within six months, in which digital transactions will be implemented.

BISP has introduced a new way to pay in 2025. Now, Rs. 13,500 will be sent directly to the bank accounts of beneficiaries, with no extra fees or deductions by agents.

This initiative is designed to help women and promote financial inclusion throughout Pakistan.

Earlier, the Benazir Income Support Program (BISP) launched a dynamic survey to expand its reach to 10 million needy families across Pakistan.

This initiative aims to ensure financial assistance is given to the deserving households through a transparent and easy registration process.

BISP opens 10 million accounts in the fight against poverty