The Benazir Income Support Programme (BISP) is making cash support accessible to around 9 million families across Pakistan, including Punjab, as part of the Benazir Kafaalat initiative. Launched in 2008, this program has grown to become Pakistan’s largest cash transfer initiative, aimed at helping low-income families meet essential needs and overcome financial challenges.
Overview of BISP and Benazir Kafaalat
The BISP program, established in 2008, provides critical financial support to low-income families across Pakistan. Originally limited to select areas, the program has expanded to become a nationwide initiative that now benefits approximately 9.3 million families and aims to reach 10 million families by next year.
Objectives of the BISP Program
BISP aims to provide short-term financial support while also striving for long-term economic empowerment. Key goals include:
- Relieving Financial Pressure: Addressing the rising costs of essential goods and services.
- Reducing Poverty: Enabling families to manage their basic needs.
- Women Empowerment: Supporting female-led households and ensuring financial inclusion.
- SDG Alignment: Contributing to the Sustainable Development Goals (SDGs) set by the United Nations, which include ending poverty and hunger.
Quarterly Payment Details
Every three months, eligible families receive financial aid from BISP. Currently, each family receives Rs10,500 per quarter, with plans to increase this amount to Rs12,500 starting from January 2025.
Bank Expansion for BISP Payment Collection
To ease the payment collection process, BISP has broadened its list of partner banks where beneficiaries can withdraw funds. Previously, most recipients relied on Habib Bank Limited (HBL), often leading to long wait times. Now, beneficiaries can withdraw their funds from multiple banks across Punjab, which simplifies the process and saves time.
List of Eligible Banks for BISP Withdrawals
Families eligible for BISP Kafaalat payments can now withdraw funds from the following banks:
| Bank | Type |
|---|---|
| Habib Bank Limited (HBL) | Commercial Bank |
| Bank Al Falah | Commercial Bank |
| Bank of Punjab | Provincial Bank |
| Mobilink Microfinance/Jazzcash | Microfinance |
| Telenor Microfinance Bank | Microfinance |
| HBL Microfinance | Microfinance |
Conclusion
The Benazir Income Support Programme (BISP) has become a lifeline for around 9 million families across Pakistan, providing essential financial support through its quarterly cash assistance. By expanding bank partnerships, the government has made it easier for beneficiaries to access their funds without long wait times. This initiative not only offers short-term relief to those facing financial challenges but also aligns with long-term goals of poverty reduction and women’s empowerment. As BISP continues to evolve, it remains a vital program committed to improving the quality of life for Pakistan’s most vulnerable populations.