Today, Prime Minister of Pakistan, Imran Khan inaugurated the Ehsaas Digital Saving Wallets initiative to deepen women’s financial inclusion in the country. The World Bank’s report ranks Pakistan’s Ehsaas Programme on the fourth position on the list of the countries who assisted their poor to alleviate poverty during the COVID-19 pandemic. While addressing the ceremony, PM said,
We used technology to help everyone.
PM Imran Inaugurates Ehsaas Digital Saving Wallet Scheme to Deepen Financial Inclusion
He also mentioned that it is essential for every responsible country to focus on their poor. Furthermore, he said,
We want to make a social welfare state that takes care of its people. The government is focusing on launching programs and schemes for women to help them start their own entrepreneurial projects. We cannot become great if we continue to ignore our poor.”
Under his program, the Ehsaas Kafaalat beneficiaries will now be provided with the option of either taking their money out or saving money into their digital wallets. It is a good initiative that will assist Kafaalat households to manage financial shocks, meet emergency needs, and make investments to ramp up their earnings which will consequently help them in alleviating poverty.
Initial transactions via these accounts will encompass balance inquiry, cash in and cash out, transfer funds received from Ehsaas program to mobile accounts, mobile top-up, utility bill payments, and money transfers.
The principal motive behind this program is to encourage savings which could be used for making investments in the longer term which would ultimately help in reducing poverty. In addition to that, it will also deepen the financial inclusion initiated under the ‘One Woman One Bank Account Policy’