BISP New Payment Method 25% Updated 2023

BISP New Payment Method 25% Updated 2023

BISP New Payment Method 25% Updated 2023

September 23, 2023 by admin

The Benazir Income Support Program (BISP) was introduced in 2008 in Pakistan by Former Prime Minister Yousaf Raza Gillani. The BISP is named after former Prime Minister Benazir Bhutto to pay her tribute as she was killed in an assassination attempt in 2007.

The Benazir Income Support Program (BISP) is one of Pakistan’s most important social safety net programs, with the aim of providing financial help to needy households in the country.

Benazir Income Support Program (BISP)

Ms. Shazia Marri is the Federal Minister, of the Poverty Alleviation and Social Safety Department, and Chairperson of BISP. The establishment of this ministry led to the integration of the Benazir Income Support Program (BISP) into the Poverty Alleviation and Social Security Division (PASSD).

Since its launch, BISP 8171 has been providing for millions of needy and underprivileged households. The program was introduced with the goal of poverty reduction and helping needy households improve their lifestyle, empowering women, and helping them make ends meet. BISP prioritizes women as the primary beneficiaries because they are often the most marginalized and vulnerable members of society.

Benazir Income Support Program

BISP has been applauded multiple times at different forums for its role in poverty reduction. The program has also been working for the welfare of education across the country and to provide deserving and needy students with financial resources. However, this program has also faced several difficulties and challenges such as transparency, corruption, fraud, eligibility, limited resources, and awareness among the masses.

BISP New Payment System

Benazir income support program has faced several challenges to date since its inception. Therefore, in an effort to overcome these challenges, BISP in collaboration with the Minister of Poverty Alleviation and Social Safety Department has introduced a new payment system that is expected to increase the transparency of the entire process by reducing the role of middlemen and ensure that the payments reach the beneficiaries directly.

BISP New Payment System

In this article, we are going to discuss the features of BISP’s new payment system as well as what benefits will it be providing to beneficiaries.

BISP Tracking CNIC Tracking and Payment

Benazir Income support program has launched a tracking system for the convenience of the candidates. In this system, a tracking ID is assigned to the applicant when he or she applies in the program either through an online portal or by visiting the Bisp Tehsil office.

This tracking ID helps the applicants to keep track of their application status as to whether or not your application is approved. For the selected candidates, this tracking ID is used to check their payment status and remaining balance in their account.

Features of BISP New Payment System:

The Board of the Benazir Income Support Programme (BISP) has given its approval for a new payment model to be implemented for beneficiaries. The new model involves opening bank accounts for the recipients, and this decision was made during the 58th Board meeting of the BISP.

The meeting was chaired by the Federal Minister for Poverty Alleviation and Social Safety, Shazia Marri, in Karachi. Here are the key features of the new payment system:

Features of BISP New Payment System

Stipend: The BISP Board has approved a 25% increase in the stipend for beneficiaries. As a result, the quarterly stipend will be raised from 7,000 to 8,750 rupees.

Proper Targeting of Beneficiaries: BISP will identify eligible beneficiaries using a combination of methods to ensure that the support goes to those who need it most.

Bank Accounts: BISP has directed the beneficiaries to open bank accounts in their own names so that the payment can be transferred directly to the bank accounts of those beneficiaries.

Pilot: The new payment model will be tested in four selected districts of Pakistan through a pilot project. Upon successful implementation, beneficiaries across the country will be able to open bank accounts of their choice to receive the BISP payment.

Internship Program: BISP has also approved an internship program that will let fresh graduate who want to work with BISP and gain experience that will help them kick-start their professional careers.

Internship Program

NADRA Support: BISP has asked the Chairman of NADRA to make arrangements for people living in remote areas of Balochistan so that their CNICs can be made necessary for bank opening procedures.

Benefits of Benazir Income Support Program New Payment System:

The new payment system introduced by BISP has several benefits for the beneficiaries and the program. Some of the key benefits of the new payment system are as follows:

Benefits of Benazir Income Support Program New Payment System

Enhanced Transparency: The new payment system enhances the transparency of the program by eliminating intermediaries as the beneficiaries are now going to receive their payments directly into their accounts.

Improved Efficiency: The new payment system improves the efficiency of the program by reducing administrative and transaction costs and will streamline the entire process.

Greater Convenience: BISP’s new payment system provides greater convenience to the beneficiaries by enabling them to access cash transfers from anywhere and at any time. Not only will this program be beneficial for beneficiaries but also for the BISP department as well.

Greater Convenience

Better Targeting: The new payment system improves the targeting of the program by ensuring that only eligible beneficiaries receive cash transfers through proper banking channels.

Frequently Asked Questions

What is the Benazir Income Support Program?

The Benazir Income Support Program (BISP) is a social protection program that was introduced with the aim The Benazir Income Support Program (BISP) is a social protection program that was introduced with the aim

What is the new payment system introduced by BISP?

The new payment system introduced by BISP is a system that will allow the beneficiaries to receive their payment directly into their bank accounts.

What are the benefits of the new payment system?

The new payment system enhances the transparency, efficiency, convenience, and targeting of the program.

Who are the beneficiaries of the Benazir Income Support Program?

The beneficiaries of the Benazir Income Support Program are needy, underprivileged and deprived citizens across the country

Final Verdict

BISP new payment system introduced is a significant step towards enhancing the transparency and efficiency of the program. Not only will this payment system be beneficial and convenient for beneficiaries but also for the department. Beneficiaries can now access their money anytime and anywhere they want through bank branches and ATMs.

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