The Benazir Social Protection Account is a new and improved way to provide financial assistance to people in the Benazir Income Support Programme. The government wants to ensure that the money goes to the right people who truly need and deserve it.
This demonstrates the Pakistani government’s dedication to assisting its citizens and creating a fairer society. In simpler terms, the “Benazir Social Protection Account 2025” is like a special bank account that helps the government give money to eligible individuals in the Benazir Income Support Programme.
An Overview of Benazir Social Protection Account
This is a significant step in the fight against poverty and aiding the most vulnerable members of society. The government is utilizing modern technology to make sure that the money reaches those who need it the most.
During the launch event of the “Benazir Social Protection Accounts,” Dr Amjad Saqib the BISP Chairperson expressed his passion for this innovative idea.
She stated that it’s a major milestone for the Benazir Income Support Programme, which has been assisting people for 15 years. These accounts will simplify and make the process of providing financial support more transparent for the beneficiaries.
The Prime Minister of Pakistan, Mr. Muhammad Shehbaz Sharif, also attended and played a crucial role in initiating the “Benazir Social Protection Account.” Many prominent individuals attend and participate in the event, including Mr. Asif Ali Zardari, the Federal Minister of Information and Broadcasting, diplomats, and many other members who get the support from the innovative program.
All About BISP New Payment Method via Benazir Social Protection Account
As I mentioned earlier, the Pakistani government has introduced a special program called the “Benazir Social Protection Accounts” for the Benazir Income Support Programme (BISP). This is a significant achievement! The Prime Minister, Muhammad Shehbaz Sharif, also attended the launch event.
With this new system, women can choose their preferred bank to receive direct payments. This means they can withdraw money whenever they need it, giving them more control over their finances.
To ensure fairness, four banks were selected, i-e;
- National Bank.
- Bank Alfalah.
- JS Bank Limited.
- United Bank Limited.
These banks will help establish the “Benazir Social Protection Account” system. The primary aim of this initiative is to empower women and provide them with greater financial independence. By allowing them direct access to their funds, the government hopes to enhance their quality of life and simplify the process of receiving financial assistance, making it more clear.
Moreover, the government is deeply committed to improving the lives of people, especially needy women. They believe that this new payment system will contribute in creating a society where everyone feels included and empowered.
More Support for Families via BISP Budget Increase 2024
Dr Amjad Saqib was delighted that the Prime Minister attended the event and expressed interest in the Benazir Income Support Programme (BISP). He praised the late Shaheed Mohtarma Benazir Bhutto and current President Asif Ali Zardari for launching this program in 2008.
BISP provides financial assistance to deserving women and their families. Over the past 15 years, it has accomplished many positive things and transformed the lives of numerous families in Pakistan.
MR. Saqib further mentioned that in the past year, the BISP budget has increased significantly. It grew from Rs. 235 billion to Rs. 404.2 billion, which is a 72% huge increase! This means that more and more families, till now a total of 9 million, will receive assistance from BISP.
The program is dedicated to provide assistance to the most poor and needy members of society. The number of eligible families for BISP support, which is now 9 million, has risen compared to previous years.
During the floods in 2022, BISP provided Rs. 70 billion to 2.8 million families who were affected. This was a significant help during a challenging period. The program uses a special list called the National Socio-economic Registry (NSER) to ensure that the right families receive assistance. They even re-surveyed 2.3 million households in the last four months to keep the list up to date.
BISP has also taken an important step in supporting the transgender community for the first time. Additionally, they have made it easier for people with disabilities to receive assistance by reducing the eligibility criteria.
To celebrate its 15-year journey, a book titled “15 Years of Benazir Income Support Programme” was launched at the event. Overall, BISP is doing valuable work by assisting women, families, and contributing to making Pakistan a better place.
Closing Verdict
I sum up by saying that the Benazir Social Protection Account, under the leadership of Prime Minister Sharif, marks a significant milestone in Pakistan’s efforts to support vulnerable families and empower women. This initiative’s commitment to increasing the budget, extending assistance to more families, including marginalized communities, and maintaining an updated beneficiary list through the National Socio-economic Registry demonstrates the government’s dedication to creating a more inclusive and equitable society.
With its 15-year journey celebrated in the form of a commemorative book, the Benazir Income Support Programme continues to play an important and front role in improving the lives of needy families especially women, contributing to a brighter future for Pakistan.
