ISLAMABAD: Pakistan’s flagship poverty alleviation initiative, the Benazir Income Support Program (BISP), plans to equip 10 million women with digital bank accounts linked to their phone numbers within four months in one of the largest such exercises in the world, one of its top officials said on Wednesday.
Launched in 2008, the initiative is named after the late former prime minister Benazir Bhutto and has a budget of Rs716 billion ($2.5 billion) during the current fiscal year. Through its Benazir Kafaalat — or financial assistance — program, BISP provides quarterly stipends of Rs13,500 ($48) to around 10 million women.
In an exclusive interview with Arab News, BISP Secretary Amir Ali Ahmed said the opening of digital bank accounts for the beneficiaries was part of Prime Minister Shehbaz Sharif’s initiative related to a cashless economy and digital transformation of the country.
“I’m glad to share that 10 million bank accounts, wallet accounts were created,” he said. “This is a follow-up of the same exercise whereby now 10 million SIMs are being distributed.
“It is significant to share that the entire beneficiary network that we have is female-centric,” he continued. “So these are 10 million female accounts that have been created.”
