BISP signs pact with six banks for fund disbursement to 9.3 million households

Benazir Income Support Programme has signed an agreement with six banks for disbursement of funds among its 9.3 Million beneficiary households across the country.

The agreement was signed at a ceremony that was witnessed by the Chairperson, Dr Muhammad Amjad Saqib and development partners of the programme.

The secretary BISP speaking at the event explained that initially, the programme was utilizing the services of only two banks.

However, this expansion signifies the introduction of wider service leading to greater transparency.

The BISP will annually save two billion rupees on account of competition introduced through this new payment system.

As a consequence, there will be 15 clusters and 6 banks providing service to BISP beneficiaries now with broader partnership service.

Source: Radio Pakistan