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Business & Finance

Ehsaas Programme: HBL to disburse Rs 90 billion among 7.5 million beneficiaries

Habib Bank Limited (HBL) will disburse Rs 90 billion among 7.5 million beneficiaries under Ehsaas Emergency Cash Program. This program has been launched by the government of Pakistan to support the daily wage earners and piece-rate workers resulting from
Published 10 Apr, 2020 12:00am
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Habib Bank Limited (HBL) will disburse Rs 90 billion among 7.5 million beneficiaries under Ehsaas Emergency Cash Program. This program has been launched by the government of Pakistan to support the daily wage earners and piece-rate workers resulting from the lockdown in the country due to the ongoing Coronavirus (COVID-19) crisis.

HBL and Ehsaas are already partnering on the Kafaalat program that benefits the most deserving women across the country. According to HBL, the delivery of the Ehsaas Emergency Cash program is the largest social safety net initiative in Pakistan's history.

HBL is leading this effort across Sind, Baluchistan, Punjab and ICT, in disbursing approximately Rs 90 billion to an estimated 7.5 million beneficiaries. Under the existing partnership, HBL is stepping up to support this initiative to provide emergency cash assistance with a disbursement of Rs 12,000 per family.

HBL, on a short notice, has stepped up to support the delivery of the emergency cash to the beneficiaries, in addition to the already 3 million Kafaalat beneficiaries.

Habib Bank said that it is an honored to expand its partnership with Ehsaas, leveraging the transparent mechanism put in place jointly by Ehsaas and HBL, to play its part in the relief efforts that the Government of Pakistan is undertaking to assist those impacted by coronavirus.

HBL has also announced full support to the Prime Minister of Pakistan in this initiative and lauds the support given by the Provincial Governments for the program. HBL is one of the two Ehsaas exclusive funds disbursement partners chosen to enable the payment of emergency cash.

Muhammad Aurangzeb, President and CEO of HBL, commented that while the Coronavirus crisis continues to develop and cause uncertainty to all of us, HBL is keenly aware of its duty to support Pakistan at this difficult time. Ehsaas Emergency Cash Program brings together various programs for poverty alleviation into a single platform while leveraging the role of the private sector and digital technologies, he added.

It may mentioned here that HBL's national presence, largest distribution network, branchless banking platform HBL Konnect and investment in technology and talent, enables the Bank to undertake this huge task.'

Dr Sania Nishtar, Special Assistant to the Prime Minister on Poverty Alleviation; Chairperson BISP already believes that through the Ehsaas Program, the government will provide social protection to more than 12 million deserving families affected by the economic downturn due to the coronavirus outbreak.

Copyright Business Recorder, 2020

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