ISLAMABAD: The Benazir Income Support Program (BISP) has urged the people belonging to the low-income strata to submit applications for becoming a part of the recently launched “BISP Saving Scheme”, taking a step towards making them self-reliant.
The BISP has started receiving applications under this scheme from those applicants both men and women living in Islamabad, Peshawar, Lucky Marwat, Quetta, Muzaffarabad, Neelam, Qila Saifullah, Multan, Karachi, Sukkur, Lahore, Gilgit and Astore.
The applicants, having a PMT score below forty, are required to apply through a web portal: savings.bisp.gov.pk to become a part of this scheme without paying any fee.
The applicants will open a savings account in the bank to join the scheme. Those who will participate in the scheme will deposit money from Rs500 to Rs1000 monthly in their bank account.
The beneficiaries will get an additional 40% of their savings from the BISP. The scheme duration 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 2-year period. However, they can withdraw the share given by BISP and the profit given by the bank.
The beneficiary can withdraw from the scheme at any time but rejoining will not be possible until the end of the scheme.
BISP an important initiative
Dr. Muhammad Amjad Saqib, Chairperson BISP, said that BISP is an important initiative of the government to stand with deserving females and their families in their difficult times to reduce the intensity of their poverty level by providing them financial relief.
He said that BISP has taken a step towards ensuring self-sufficiency through this programme by enabling those families having their poverty score below PMT forty to open their accounts for saving some amount for their future.
He added that BISP will not only help them open accounts but also add 40% of the total amount into their bank accounts.
