Franchise System Stop by Rubina Khalid: The Benazir Income Support Program (BISP) has taken a significant step to enhance its financial assistance delivery by abolishing the franchise system. The newly appointed Chairperson of BISP, Rubina Khalid, has initiated this change to curb corruption and ensure a transparent payment process. Here’s an in-depth look at how this new system will work and its benefits.
BISP Ends Franchise System
For years, BISP beneficiaries received their payments through a franchise system. However, numerous reports of malpractices, such as deductions and delays, plagued the system. Recognizing these issues, Rubina Khalid decided to overhaul the payment mechanism, partnering with six major banks in Pakistan to facilitate seamless and transparent transactions.
Key Changes:
- Franchise System Abolished: Due to widespread corruption and inefficiencies, the franchise system has been terminated.
- Bank Partnership: Payments will now be processed through six banks, ensuring timely and full disbursement of funds.
Updated Payment Method
New Process:
- Eligibility Check: Beneficiaries must verify their enrollment in the program.
- Direct Bank Transfer: Payments will be directly deposited into the bank accounts of eligible individuals, eliminating the need for middlemen.
Benefits:
- Transparency: Direct bank transfers reduce the risk of corruption.
- Efficiency: Beneficiaries receive payments quickly without standing in long queues.
List of Partner Banks
BISP has partnered with the following six banks to handle the payment transfers:
| Bank Name | Type |
|---|---|
| Bank Al Falah | Commercial |
| Bank of Punjab | Commercial |
| Mobilink Microfinance Bank | Microfinance |
| Telenor Microfinance Bank | Microfinance |
| Habib Bank Limited (HBL) | Commercial |
| HBL Microfinance | Microfinance |
How to Receive Payments
To receive payments, beneficiaries should:
- Confirm Eligibility: Ensure you are enrolled in the BISP program.
- Bank Account: Open an account with one of the partner banks if you don’t already have one.
- Follow Simple Steps: The bank will guide you through the steps to receive your payment without any hassle.
Chairperson Rubina Khalid’s Initiative
Rubina Khalid’s visit to various franchise centers revealed numerous issues, including unfair treatment and delays in payment. Her plan to partner with banks aims to address these problems comprehensively. This new system ensures that payments go directly to beneficiaries’ bank accounts, promoting transparency and efficiency.
Key Objectives:
- Eliminate Corruption: Direct payments to bank accounts reduce the chances of fraud.
- Ensure Fair Treatment: Beneficiaries, especially women, will receive full payments without deductions.
Impact on Beneficiaries
The new payment system is designed to provide a more secure and transparent process for BISP beneficiaries. Women, who often faced unfair treatment and deductions, will particularly benefit from this change. The direct deposit system ensures they receive the full amount they are entitled to.
Common Complaints Addressed:
- Payment Deductions: Previous issues of partial payments will be eliminated.
- Delays: Faster processing through banks ensures timely payments.
How to Stay Informed
For the latest updates on the BISP payment system, beneficiaries should regularly check the official BISP website. All necessary information, including eligibility criteria, payment procedures, and partner bank details, will be available online.
Final Words
The termination of the franchise system by BISP Chairperson Rubina Khalid marks a significant move towards a more transparent and efficient payment process. By partnering with six major banks, BISP ensures that beneficiaries receive their financial assistance without any hassle or corruption. Stay informed, follow the new procedures, and enjoy the benefits of a streamlined and fair payment system.
For more details, visit the BISP website and keep yourself updated with the latest news and information.
Frequently Asked Questions (FAQs)
What is the new BISP payment method?
The new BISP payment method involves direct transfers to beneficiaries’ bank accounts through six partnered banks. This replaces the old franchise system to ensure transparency and efficiency.
Who is eligible for the new payment system?
All current BISP beneficiaries are eligible. New applicants must meet the program’s criteria to receive payments.
How do I receive my payment?
- Verify Enrollment: Ensure you are enrolled in the BISP program.
- Bank Account: Open an account with one of the partner banks.
- Follow Bank Procedures: The bank will guide you through the payment process.
Which banks are involved in the new payment system?
The following banks are partnered with BISP:
- Bank Al Falah
- Bank of Punjab
- Mobilink Microfinance Bank
- Telenor Microfinance Bank
- Habib Bank Limited (HBL)
- HBL Microfinance
What documents are required to receive payments?
You will need a valid ID card and, if applicable, a disability certificate. Original documents must be presented during the application process.
How does the new system prevent corruption?
By eliminating the franchise system and using direct bank transfers, the new system reduces the risk of fraudulent activities and ensures beneficiaries receive their full payments.
When will the new payment system start?
The new system will be implemented once the Cabinet Committee on Finance approves the proposal. Beneficiaries should stay updated through the BISP website for the latest information.
Can I get a replacement if I lose my card?
Yes, beneficiaries can apply for a replacement card through their respective bank by following the same application process.
Where can I find more information?
Visit the official BISP website for detailed information on the new payment system, eligibility criteria, and application procedures.
