The Benazir Income Support Program (BISP) is an initiative that has distributed more than US$1 billion in cash grants to more than 3.5 million women in Pakistan. Despite the success of the program, it has been criticized due to a number of design flaws. Nevertheless, there are several ways that BISP can help the poor in their daily lives. Among them are a mobile app and a debit card.
BISP has disbursed more than PRs. 85 billion (US$1 billion) in cash grants to over 3.5 million beneficiary women in various regions of Pakistan
Benazir Income Support Program (BISP) is an initiative of the government of Pakistan, which is designed to alleviate the negative effects of inflation and food crisis on women in Pakistan. Since its launch in 2008, the program has disbursed more than $1 billion in cash grants to more than 3.5 million beneficiary women in Pakistan. The program aims to reach 5.5 million beneficiaries by 2016. The first phase of BISP funding was through Pakistan Post branches. The second phase of the program involved the adoption of modern payment technologies.
In recent years, the economy of rural Pakistan has improved dramatically, with cumulative motorcycle sales jumping to 126,701 from 105,862 in 2009. However, the overall national economic outlook cannot improve unless budget deficits and rising inflation are managed. In addition, the ruling feudal elite must pay their fair share of income tax on the rising farm incomes.
In 2008, the government procurement price of wheat rose from Rs. 625 per 40 kg to Rs. 950 per 40 kg. Since then, food accounts for 40 percent of the country’s consumer price index. Since 2008, the cumulative price of wheat has risen by 120 percent. Between 2003-2007, the price of wheat grew by 40 percent. Meanwhile, sugar prices have risen by 46 percent.
BISP has a mobile app
The Benazir Income Support Program (BISP) is a cash transfer scheme for low-income families. The government has developed a mobile application to help beneficiaries access the benefits that are available to them. The app can also be used to track the progress of the beneficiary’s BISP claim. It’s possible to access the information on your phone from anywhere in the world, and it’s free to download.
The mobile app helps BISP recipients access their monthly benefits. The mobile app also offers an opportunity for beneficiaries to report missing payments and make changes to their account. BISP has also improved its field operations and implemented dashboards. The BISP chairperson also goes live on radio Pakistan every week to answer beneficiaries’ questions and listen to their complaints. The program has also implemented new technologies such as QuickBook software and a system of reconciliation with Partner Banks.
In addition to the mobile application, Benazir Income Support has offices in every tehsil in Pakistan. The new payment model allows beneficiaries to withdraw money from a biometric ATM, a branch, an agent, or a door-step delivery facility. This new payment model also has fully integrated complaint management and online reconciliation. The new model encourages banks to push payments to the beneficiaries and introduces sliding scale commission.
In 2010, the BISP announced plans to deliver cash grants via mobile banking in five districts. The program provides mobile sets to beneficiaries, who are notified via text messages or IVR when their cash grant is available. They must personally collect their payments from a franchise, present their CNIC and sign the receipt. A mobile app could help BISP achieve its goal of improving financial security for low-income households.
BISP is a cash transfer program to women in need of financial help. The program pays women 1600 rupees a month to cover basic living expenses. It also offers women empowerment by providing economic resources to reduce poverty. The Government of Pakistan wanted to gauge the effectiveness of the program and ensure that the benefits were being distributed to all eligible women. So it carried out spot checks in the country between November 2013 and November 2016.
BISP has a debit card
The Benazir Income Support Program (BISP) has recently launched a mobile application, the Benazir Debit Card, to facilitate payment by BISP beneficiaries. The Debit Card will become the primary method of payment for BISP beneficiaries in the near future. The Mobile App allows beneficiaries to register themselves for the program and view their account balances. It also includes helpful tips on using the card.
The BISP mobile app has a number of useful features, including a virtual account, multi-account withdrawal option, and biometric ATMs. The app also supports door-step delivery. The new payment model will feature a comprehensive complaint management system and online reconciliation. The app also encourages banks to push payments directly to beneficiaries, thereby eliminating banking floats. The system will also offer the convenience of a digital account with no monthly fees.
While the BISP mobile app provides a number of useful features, it lacks several features, which critics have criticized. The program only pays RS 3000 monthly, which is significantly less than what a person needs to move above the poverty line. It also lacks conditionality. Compared to other countries, where conditional cash transfer programmes are more successful, BISP does not include conditions. Conditional cash transfer programs are intended to help build human capital, such as enrolling children in primary education and visiting health care providers.
The BISP launched mobile banking as a payment option in December 2010 in five districts. Beneficiaries were provided with a mobile phone and informed of payment availability via SMS or IVR. Beneficiaries then had to pick up their payment personally from a franchise and present their CNIC and sign the receipt. With the new technology, the program is bringing a new level of convenience to the BISP’s beneficiaries.
BISP is using the feedback reports from the BISP mobile app to improve the design and field operation of the program. The company has also lowered its service charges, which were 4% in the case of the Smart Card and 3.1% for the BDC, which means that 70% of payments will be biometric by December 2017.