The State Bank of Pakistan (SBP) has informed the National Assembly Standing Committee on Poverty Alleviation and Social Safety that beneficiaries of the Benazir Income Support Programme (BISP) will bear the cost of cash withdrawals made through the programme’s upcoming digital wallet system.
During the committee meeting, SBP Deputy Governor Saleem Ullah said the charges will apply only to cash withdrawals, while online transfers and RAAST transactions will remain completely free for beneficiaries.
Digital Wallet Rollout by End of July
According to the SBP, two private microfinance banks will launch the digital wallet service on July 16 and July 20, while all six participating banks are expected to complete system integration by July 31.
The central bank has also set December 31 as the deadline for full digitalization of beneficiary accounts and mandatory online functionality.
Saleem Ullah said the cash withdrawal fee has been fixed at Rs. 280, adding that the SBP will review and notify the applicable charges every six months.
Committee Raises Awareness Concerns
Committee members expressed concern over the limited public awareness of the new digital wallet system and questioned BISP’s oversight of participating banks. They directed the programme’s management to strengthen implementation, improve coordination with banks, and ensure beneficiaries receive proper guidance and support.
BISP Secretary Amer Ali Ahmad informed the committee that a district-wise report on the performance of partner banks will be submitted in the next meeting.
Compensation After Rahim Yar Khan Incident
The committee was also briefed on the March incident in Rahim Yar Khan, where several BISP beneficiaries lost their lives or were injured after the roof of a payment distribution point collapsed.
Officials said BISP penalized the private microfinance bank responsible for negligence. As compensation, Rs. 2 million was paid to the family of each deceased beneficiary, while Rs. 500,000 was provided to each injured person for medical treatment. The compensation amount was recovered from the bank’s share.
