ISLAMABAD – The State Bank of Pakistan (SBP) has informed a National Assembly committee that beneficiaries receiving Benazir Income Support Programme (BISP) payments through digital wallets will have to pay a withdrawal fee of Rs280.
SBP Deputy Governor Saleem Ullah said the charges would apply only when beneficiaries withdraw cash from their digital wallets, while online transfers and transactions through the RAAST payment system would remain free of cost.
Briefing the Standing Committee on Poverty Alleviation and Social Safety, he said the SBP would issue an updated schedule of charges every six months.
The cost related to interoperability of digital wallets under the BISP system will be covered by beneficiaries.
The deputy governor said two private microfinance banks are expected to launch operations under the system on July 16 and July 20, while all six participating banks are scheduled to complete integration by July 31.
The complete digital transition of beneficiary accounts, including mandatory online functionality, is planned by December 31.
Meanwhile, the Federal Investigation Agency (FIA) recently arrested two vendors in Jhangiwali Road for allegedly making illegal deductions from BISP payments. The suspects were accused of taking Rs1,000 to Rs1,500 from beneficiaries. Authorities said cash and identity cards belonging to several women beneficiaries were recovered during the operation.
