ISLAMABAD – A savings Scheme by the name of Bachat Scheme has been launched by the government in collaboration with Benazir Income Support Program (BISP).
As of yet BISP has only launched this scheme for citizens of a few cities. Below are the cities included in the BISP Bachat Scheme.
Cities included in BISP Bachat Scheme
The following cities are included in the Bachat scheme as of yet.
- Lakki Marwat
- Qila Saifullah
Eligibility Criteria for BISP Bachat Scheme
The eligibility criteria for BISP has been set through a specific method. This is a scientific method known as the Proxy Means Test (PMT). Individuals are selected through a screening process by observing their PMT score.
The PMT score of an applicant ranges from 0 to 100. Only candidates with a PMT score of 0 to 40 are eligible for the BISP Bachat Scheme.
The PMT score depends on the financial condition of a household. Salaried people whose salaries are less compared to the members of the family or household are more likely to be eligible for this scheme.
How to Apply for BISP Bachat Scheme?
To apply for the BISP Bachat Scheme, candidates need to go to the official website of BISP and fill out a form titled as NSER survey.
The NSER survey will portray if a candidate is eligible for the BISP Bachat Scheme or not.
Where to Apply for BISP Bachat Scheme?
To apply for the BISP Bachat Scheme, candidates must visit the official website of BISP savings. Click here to get to the website.
An applicant must have a savings account in order to apply for the BISP Bachat Scheme
If an applicant gets selected after their PMT, they’ll need to deposit a minimum amount of Rs500 to Rs 1,000 per month in their savings account.
This scheme will last for 2 years and applicants cannot withdraw their money from the bank. However, they’re allowed to cash out their profit from this scheme.