Blog: Benazir Mobile Phone Banking Service - BISP

P.M Gilani approves BISP insurance, mobile banking schemes (December 25, 2010)

ISLAMABAD: Prime Minister Yousuf Raza Gilani on Friday gave a go-ahead to the Life Insurance Scheme and the Benazir Mobile Banking Service under the Benazir Income Support Programme (BISP).

The Life Insurance Scheme will be launched on January 1, 2011 with the collaboration of the State Life Insurance Corporation, while the Benazir Mobile Banking Service will be started soon.

In a meeting with BISP Chairperson Farzana Raja at the PM House, Gilani reiterated the government’s commitment to institutionalise and extend social security package for the poor and vulnerable segments of the society. Despite economic difficulties and constraints, the government, he added, would not neglect the downtrodden.

“The BISP Life Insurance scheme will undoubtedly give a sense of economic security to the destitute and deprived sections of population, particularly in the far flung areas of the country,” he added.

Prime Minister Gilani also appreciated the proposed Mobile Banking System being introduced by the BISP for the poor beneficiaries. This system, he said, would not only facilitate the beneficiaries, but also ensure complete transparency in the disbursement of cash grant.

He said the system, initially being introduced in Larkana, Batgram, Layyah and Musakhel, should soon be expanded to other areas as well. Prime Minister Gilani directed the BISP chairperson to expedite the health insurance scheme for the poor and complete it for launching till the end of current financial year. He also directed that the poverty survey through out the country be completed preferably till the end of June 2011.

Earlier, Farzana Raja briefed Prime Minister Gilani on the Benazir Insurance Scheme and Benazir Mobile Banking System. The Insurance Scheme, she mentioned, would be launched on 1st of January 2011. The Insurance Scheme, she said, would initially cover one million registered beneficiaries and would reach five million till June 2011.

About the Mobile Banking System, she said it would be introduced in four backward districts of Larkana, Layyah, Batagram and Musakhel. She said the registered beneficiaries in these districts, she said, would be given free mobiles by mobile companies in collaboration with private banks along with 300 free minutes and Rs100 free balance.

“Through this system, the beneficiaries will be able to know whether their cash grant has arrived or not, and other details on regular basis.” As regards health insurance scheme, the chairperson said 80 per cent of the work had been completed and she hoped it would be launched within this financial year as per directive of Prime Minister Gilani.

via: TheNews