When it comes to Benazir income support program, you have the option to pay for your benefits using a number of modes, including the BISP mobile app. While this app makes it possible to pay for your social safety net, there are some problems with it. You might want to consider alternatives to this system.
Issues with the mobile app
The Benazir Income Support Programme is the flagship national safety net system of Pakistan. The program has been designed to cushion the adverse impact of the recent crisis on the poor and vulnerable. The BISP provides predictable monthly cash transfers of US$15 to around 4.8 million families. It is supported by the World Bank’s Social Safety Net Project.
While the Benazir Income Support Programme is far from perfect, the most laudable achievement is the creation of a viable model of the nascent welfare state in Pakistan. This is a first of its kind in the world. To achieve this feat, a team of experts from the US, the UK, Germany, and India have been working in close collaboration with Pakistani government officials and bureaucrats over the past three years.
BISP’s social safety net program
Benazir Income Support Program (BISP) was launched by the government of Pakistan to help poor households during the economic crisis in 2008. The programme provides cash grants to the eligible families. It also offers other social services.
In the initial phase, the program would distribute Rs1,000 monthly to 4.3 million families. Additional funds would expand the coverage to 5.5 million families.
BISP has received support from the Asian Development Bank and World Bank through its Social Safety Net Project. BISP is Pakistan’s largest safety net program.
BISP targets female members of poor families. The program provides cash transfers to eligible households, with the goal of boosting the human capital development of the beneficiaries. It also offers health care, education, vocational training, and small loans.
BISP’s mode of payment
The Benazir Income Support Programme (BISP) has been working towards eradicating poverty in Pakistan. This programme provides monthly income to financially down families in order to sustain their livelihoods. In the first decade of its operation, over $1 billion in cash grants have been disbursed to over 3.5 million women across the country.
Since the launch of the program, BISP has been making significant improvements in its payment modes. One of the major initiatives has been the introduction of smart card payments for beneficiaries. Today, over 183,000 beneficiaries have received funds through the Smart Card.
BISP has also started to provide cash grants through mobile banking. A pilot project is underway in several districts to test the new payment mechanism. Beneficiaries will be able to receive the funds directly to their bank accounts.
Alternatives to the Pakistan Post payment system
The State Bank of Pakistan has reviewed its performance in 2017 and found a 17% growth. It has also defined performance indicators for its partner banks and ATMs, and has started negotiating with them to increase their presence.
While Pakistan Post remains the dominant payment system, new payment methods are emerging. One of them is the Benazir Debit Card. This is a digital innovation that allows a beneficiary to withdraw installments from their bank account.
Another is GoLootLo, which is a debit card-based system that lets a customer use their money for online purchases and recharge mobile phones. Alternatively, a consumer can send money via Ria Money Transfer. However, sending money to a foreign country can involve an up-front fee, so it’s important to find the cheapest solution.
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