Karachi BISP Bachat Scheme Offers Financial Relief for Residents in 2024

In a recent development, the government has introduced a savings scheme, known as the BISP Bachat Scheme, under the Benazir Income Support Programme (BISP). This initiative aims to provide financial assistance to daily wage earners and individuals facing economic challenges.

The scheme is currently open for applications in several cities, including Islamabad, Karachi, Muzaffarabad, Neelum, Peshawar, Lakki Marwat, Quetta, Qila Saifullah, Lahore, Multan, Sukkur, Gilgit, and Astore.

Eligibility Criteria for BISP Bachat Scheme:
To be eligible for the BISP Bachat Scheme, applicants must meet the following criteria:

1. The applicant’s Proxy Means Test (PMT) score should fall within the range of 0 to 40.
2. Applicants are required to complete the National Socio Economic Registry (NSER) survey under the Benazir Income Support Program before applying for the Bachat scheme.

Application Process:
Interested individuals can apply for the BISP Bachat Scheme through the official website: https://savings.bisp.gov.pk/

Key Instructions for Applicants:

1. Applicants must possess a savings account in a bank.
2. Selected participants are required to deposit a monthly amount ranging from Rs500 to Rs1,000 into their savings account.
3. Participants will receive an additional 40% of their savings through BISP.
4. The scheme’s duration is set at two years, after which participants can withdraw their accumulated amount.
5. While participants cannot withdraw the principal amount during this period, they are entitled to receive profits on their savings.

This initiative aims to support deserving individuals and uplift their financial well-being. The government’s focus on inclusive economic development through such programs reflects a commitment to addressing the financial challenges faced by vulnerable segments of society.

For further details and application, interested individuals are encouraged to visit the official BISP Bachat Scheme website: https://savings.bisp.gov.pk/.