The Benazir Income Support Program (BISP) has announced an increase in its quarterly installment for Benazir Kafaalat beneficiaries from Rs. 10,500 to Rs. 13,500, effective January 2025. This change aims to provide greater financial support to vulnerable families across Pakistan.
BISP Kafaalat Program
The BISP Kafaalat program, established in 2008, is Pakistan’s largest cash transfer program. Its primary goals are:
- Short-term: Mitigating the impact of inflation, food shortages, and economic downturns on marginalized communities.
- Long-term: Empowering beneficiaries through financial inclusion and improved living standards.
Currently, BISP supports approximately nine million families nationwide, including those in Punjab.
Increased Quarterly Installment Details
The increase to Rs. 13,500 per quarter represents a significant step in enhancing the program’s effectiveness. BISP Chairperson Rubina Khalid emphasized the government’s commitment to supporting underprivileged citizens through initiatives like BISP.
BISP Payment Collection Methods
BISP has expanded its payment disbursement network to offer beneficiaries more convenient access to their funds. Previously reliant on Habib Bank Limited (HBL), beneficiaries can now utilize multiple banks and digital platforms.
ATM Withdrawals
Beneficiaries can withdraw their Rs. 13,500 installment from ATMs of the following banks:
- Bank Al Falah
- Bank of Punjab
- Telenor Microfinance Bank
- Habib Bank Limited
- HBL Microfinance
This expansion aims to reduce wait times and improve accessibility for beneficiaries across the country.
JazzCash Agents
In addition to ATM withdrawals, beneficiaries can also collect their payments through JazzCash agents located in their respective areas. This option provides an alternative for those without easy access to ATMs.
Comparison of Previous and Current Installment Amounts
The following table illustrates the change in the quarterly installment amount:
| Period | Previous Amount (Rs.) | Current Amount (Rs.) | Increase (Rs.) |
|---|---|---|---|
| Per Quarter | 10,500 | 13,500 | 3,000 |
Expansion of Payment Channels
The expansion of payment channels marks a significant improvement in the BISP disbursement system. The following table showcases the available withdrawal methods:
| Withdrawal Method | Details |
|---|---|
| ATM Withdrawals | Available at ATMs of Bank Al Falah, Bank of Punjab, Telenor Microfinance Bank, Habib Bank Limited, and HBL Microfinance. |
| JazzCash Agents | Payments can be collected through authorized JazzCash agents nationwide. |
BISP’s Commitment to Transparency and Efficiency
BISP continues to prioritize transparency and efficiency in its operations. The increase in the quarterly installment and the expansion of payment channels demonstrate the program’s commitment to providing timely and accessible support to deserving families. The program aims to ensure that beneficiaries receive the full benefits of the increased financial assistance.
Future Outlook
BISP remains a crucial social safety net in Pakistan. The government has affirmed its commitment to continue supporting vulnerable communities through this program. The increased installment and improved payment mechanisms reflect this dedication to enhancing the program’s impact and reach.