BISP Introduces Direct Bank Transfers to Combat Corruption – Latest Updates
The Benazir Income Support Program (BISP) has initiated a significant change in its payment system to streamline the process and eliminate fraudulent activities. Moving away from the franchise system that had been riddled with corruption allegations, the new Chairperson of BISP, Rubina Khalid, has devised a strategic plan to collaborate with six prominent banks in Pakistan for direct payment transfers. This overhaul aims to facilitate secure and prompt disbursement of funds to deserving individuals.
The Abolishment of the Franchise System by BISP
BISP has opted to discontinue the franchise system due to numerous issues that plagued its efficacy. Complaints regarding delayed or reduced payments prompted an evaluation of the existing system. Consequently, the decision was made to revamp the payment mechanism to curb corruption instances associated with the franchise model.
With the implementation of the new approach, payments will now be directly transferred through banks, ensuring a more efficient and secure process for beneficiaries.
Chairperson Rubina Khalid’s Strategic Revamp
Upon clandestinely visiting franchise centers, Chairperson Rubina Khalid uncovered the prevalent challenges faced by female participants in the program regarding corrupt practices during payment collection. Subsequently, she resolved to terminate the franchise system and forge partnerships with six major banks in Pakistan.
This novel strategy guarantees the direct crediting of payments to eligible individuals’ bank accounts, mitigating corrupt activities and ensuring accurate disbursements.
Collaboration with Partner Banks
To ensure the seamless operation of the revamped payment system, BISP has aligned with six reputable banks in Pakistan to oversee the transfer of funds to its beneficiaries. The chosen banks include:
- Bank Al Falah
- Bank of Punjab
- Mobilink Microfinance Bank
- Telenor Microfinance Bank
- Habib Bank Limited (HBL)
- HBL Microfinance
These banking entities will guarantee the prompt and undiminished delivery of financial support to those in need.
Feedback from BISP Beneficiaries
Several women benefiting from the BISP program raised concerns about payment irregularities, including deductions and prolonged delays attributed to the previous franchise system. Chairperson Rubina Khalid provided a listening ear during her center visits and responded by ushering in the transformative payment methodology.
All payments will now be routed directly to the beneficiaries’ bank accounts, effectively thwarting corrupt practices and optimizing efficiency in the process.
New Registration Protocol for BISP Payments
To access BISP payments, individuals must register through the National Socio-Economic Registry (NSER) survey conducted at Tehsil Centers. BISP teams evaluate applicants’ financial standings during this survey. Notably, online registration is not available to deter fraudulent activities.
Applicants scoring below 30 in the survey will qualify for financial assistance through the Benazir Kafalat Program.
In Conclusion
The decision to phase out the franchise system underscores BISP’s commitment to combating corruption and simplifying the payment process. By collaborating with six reputable banks, BISP strives to ensure punctual and unadulterated disbursement of payments to eligible beneficiaries. The revamped system promises smoother, more secure, and reliable payment mechanisms for those reliant on these crucial funds.
