The Benazir Income Support Programme (BISP) plays a crucial role in Pakistan’s social welfare framework, aiming to alleviate poverty and empower vulnerable segments of society. In a significant stride towards enhancing accessibility and efficiency, BISP has forged a strategic partnership with The Bank of Punjab (BOP) for the seamless disbursement of cash grants to beneficiaries nationwide.
BOP Agreement to BISP Beneficiaries
The Bank of Punjab (BOP), a renowned public sector bank with an extensive reach across the country, has embarked on a landmark collaboration with BISP. Signed on February 21, 2024, at the BISP headquarters in Islamabad, this partnership underscores a shared commitment to advancing socio-economic development and financial inclusion.
Under the terms of this collaboration, BOP is set to extend its services to approximately 2 million BISP beneficiaries. This includes over 190,000 beneficiaries across 15 districts of Balochistan, more than 193,000 beneficiaries across 8 districts of Punjab, over 215,000 beneficiaries across 3 districts of Khyber Pakhtunkhwa (KPK), and exceeding 459,000 beneficiaries across 5 districts of Sindh.
| Province | Number of Beneficiaries |
|---|---|
| Balochistan | 190,000 |
| Punjab | 193,000 |
| Khyber Pakhtunkhwa | 215,000 |
| Sindh | 459,000 |
| Total | 2,057,000 |
BOP’s commitment to serving BISP beneficiaries transcends traditional banking channels. In addition to its extensive branch network, beneficiaries can access their cash grants conveniently through BOP’s ATMs, partner banks, and agent networks spread across all provinces of Pakistan. This multi-faceted approach ensures that beneficiaries can receive their entitlements with ease and efficiency.
How will BISP beneficiaries receive their payments through BOP?
BISP beneficiaries can receive their payments through BOP’s branches, ATMs, partner banks, and agent networks.
Is BOP the only bank facilitating BISP payments?
While BOP is the first public sector bank to provide services to BISP, other financial institutions may also facilitate payments like HBL and Bank Alfalah.
What documents are required to receive BISP payments through BOP?
Beneficiaries need to present their BISP identification documents and relevant identification proof to receive payments.
Will BISP beneficiaries incur any charges for accessing their payments through BOP?
No, BISP beneficiaries will not incur any charges for accessing their payments through BOP’s channels.
The signing ceremony of this collaboration, attended by esteemed dignitaries including Dr. Amjad Saqib, Chairman of BISP, and Mr. Zafar Masud, President and CEO of BOP, reaffirms the collective resolve to enhance the welfare and empowerment of BISP beneficiaries. Through this partnership, BOP and BISP aim to create tangible impacts, uplifting communities and fostering sustainable development.
Conclusion
The partnership between BOP and BISP marks a significant milestone in Pakistan’s journey towards inclusive growth and poverty alleviation. By leveraging BOP’s extensive network and innovative solutions, BISP beneficiaries can access their entitlements conveniently, contributing to their socio-economic well-being. This collaboration exemplifies a proactive approach towards addressing societal challenges and building a more equitable future for all Pakistanis.