ISLAMABAD, Special Assistant to the Prime Minister on Poverty Alleviation and Social Protection, Dr. Sania Nishtar on Tuesday said the main purpose of the Ehsaas Savings Wallets (Ehsaas Bachat Accounts) initiative is to encourage the beneficiaries to save money so that poverty can be eradicated.
In a series of tweets, Dr. Nishtar said now women beneficiaries would have the facility through Ehsaas Savings Accounts to either withdraw money from their account as per their need or keep it as savings.
She continued, the Ehsaas Savings Wallets (ESW) initiative would enable deserving households in the country to access banking services.
Savings accounts would make it easier for poor women to avail financial resources for economic activities.
Initially, the facilities provided to the registered beneficiaries under Ehsaas Savings Account included balance inquiry, cash in and cash out, transfer of funds received under Ehsaas to account, mobile top up, payment of utility bills and money transfer etc, she informed.
It is pertinent to mention here that the ESW pilot initiative was launched by Prime Minister Imran Khan on Monday for seven million Kafaalat beneficiaries.
Currently, Kafaalat beneficiaries are getting their cash grants through the Limited Mandate Accounts (LMA) after biometric verification. The saving wallets would be linked to existing LMA accounts of Kafaalat recipients, providing them the option to save money and even purchase goods through the wallets.
Under the initiative, Ehsaas beneficiary women would now be empowered to either draw their stipends or save money into digital wallets.
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