ISLAMABAD: The Benazir Income Support Programme has signed an agreement with six banks for disbursement of funds among its 9.3 million beneficiary households across Pakistan.
The agreement was signed at a ceremony witnessed by BISP Chairperson Dr Muhammad Amjad Saqib and development partners of the programme, according to the state-run media.
Speaking at the event, the BISP secretary 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.
