The State Bank of Pakistan (SBP) on Thursday informed a National Assembly panel that the cost of interoperability for digital wallets under the Benazir Income Support Programme (BISP) would be borne by beneficiaries.
Briefing the Standing Committee on Poverty Alleviation and Social Safety, SBP Deputy Governor Saleem Ullah said charges would apply only to cash withdrawals, while online transfers and RAAST transactions will remain free.
He said two private microfinance banks would operationalise the system by July 16 and July 20, while all six participating banks were expected to complete integration by July 31. Full digitalization of beneficiary accounts and mandatory online functionality has been set for Dec 31.
Saleem Ullah said the withdrawal charge would be Rs. 280, with the SBP to notify the schedule of charges every six months.
The committee expressed concern over a lack of public awareness about the digital wallets and what it called weak enforcement of bank compliance by BISP. It directed the programme management to establish a stronger implementation mechanism and ensure proper facilitation for beneficiaries.
BISP Secretary Amer Ali Ahmad said a district-wise report on bank performance will be submitted to the committee.
The panel was also briefed on the March incident in Rahim Yar Khan in which several BISP beneficiaries were killed or injured after a roof collapse at a distribution point. It was told that BISP had penalized a private microfinance bank for negligence.
According to the briefing, Rs. 2 million was paid to the family of each deceased person and Rs. 500,000 was given for the treatment of the injured, with the amount recovered from the bank’s share.
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