Over 10 million of Pakistan’s poorest women have become bank account holders for the first time under the Benazir Income Support Programme (BISP), marking a major shift toward financial inclusion after 16 years of dependence on agents and limited-access banking channels. These beneficiaries will soon receive stipends directly through mobile wallet accounts—eliminating long queues, middlemen, and exploitative practices.
Previously, BISP recipients were treated as captured clients by commercial banks, receiving payments through limited liability accounts without full account privileges. Banks charged fees yet often did not pass on benefits or interest to the government or beneficiaries. The breakthrough to open 10 million accounts came only after intensive high-level government engagement, according to BISP Secretary Amir Ali Ahmed.
The newly launched mobile wallets—linked to women’s national identity cards and operated via mobile phones—provide a fast, convenient way to manage money. Major banks and fintech operators opened the accounts: 3.1 million by HBL, 3 million by Bank Al-Falah, 2 million by Bank of Punjab, 1.2 million by JazzCash, and nearly 700,000 by Easypaisa.
The government is distributing free SIM cards, contributed by telecom operators, to ensure seamless onboarding. Biometric verification will be mandatory for cash withdrawals, preventing interference by agents or male family members. While no debit cards will be issued, beneficiaries can access cash through any biometric-enabled retailer or shop. Only about 6,000 of Pakistan’s 16,000 ATMs currently support biometrics.
SIM distribution is accelerating rapidly: 1.7 million issued so far, with targets of 30% coverage next month and 80% by March. The ultimate goal, spearheaded by Minister of State for Finance Bilal Azhar Kayani, is to make BISP payments 100% digital by June 2026.
Provincial SIM distribution targets include 5.1 million for Punjab, 2.6 million for Sindh, 2.2 million for Khyber-Pakhtunkhwa, and hundreds of thousands across Balochistan, AJK, Gilgit-Baltistan, and Islamabad.
BISP, introduced in 2008, currently disburses Rs13,500 per quarter—expected to rise to Rs14,500 under IMF conditions. With Rs716 billion allocated in the budget, the programme remains a cornerstone of social protection and a key counterbalance to inflationary impacts linked to IMF-mandated reforms.
Pakistan’s national digital payments ecosystem is being strengthened through coordinated work across multiple agencies:
Ministry of IT enabling nationwide SIM issuance
PTA ensuring regulatory oversight and compliance
NADRA providing secure biometric verification
Telecom operators expanding digital access and infrastructure
Despite strong progress, challenges remain, particularly reaching women without mobile phones and increasing the number of biometric-capable ATMs. However, the initiative is advancing faster than expected and marks a historic moment for women’s financial empowerment in Pakistan.
