Benazir Income Support Program (BISP) has started receiving applications for its recently launched initiative of “BISP Savings Scheme” to make people self-reliant. According to the BISP, the scheme is currently being launched in Islamabad, Muzaffarabad, Neelam, Peshawar, Lucky Marwat, Quetta, Qila Saifullah, Lahore, Multan, Karachi, Sukkur, Gilgit and Astore
The applicants, having PMT score below 40, are required to apply through a web portal: savings.bisp.gov.pk for becoming a part of this scheme without paying any fee. The applicants will open a saving account in the bank to participate in the scheme. Those who will participate in the scheme will deposit money from 500 to 1000 rupees monthly in their bank account.
The beneficiaries will get an additional 40 percent of their savings from the BISP. The duration of the scheme is two years at the end of which the beneficiaries will be able to withdraw their entire amount. The beneficiaries will not be able to withdraw their principal amount during this two-year period. However, the share given by BISP and the profit given by the bank will be able to be withdrawn.
The beneficiary can withdraw from the scheme at any time but rejoining will not be possible until the end of the scheme. Chairperson BISP, Dr. Muhammad Amjad Saqib said that BISP is an important initiative of the government to stand with the deserving women.
