ISLAMABAD – The government has increased the budget for the Benazir Income Support Program (BISP) up to Rs400 billion as compared to the last year’s allocation of Rs360 billion, in order to mitigate the sufferings of the poorest segments of the society.
According to the budget speech presented in the National Assembly on Friday, the budget for BISP was expected to be increased up to Rs450 billion by the next fiscal year.
BISP is a flagship programme of the government, implementing various schemes for the welfare of downtrodden segments.
During the last year’s budget, the government increased the budgetary allocation for BISP from Rs250 billion to Rs360 billion.
During the year 2023-24, 9.3 million families will be provided quarterly assistance of Rs8,750 under the Benazir Kafalat scheme for which Rs364 billion has been allocated.
The amount will be increased further considering the inflation rate.
The scope of the Benazir Education Stipends has been increased from six million children (52 percent girls) beneficiaries to 8.3 million children with allocation of Rs55 billion.
As many as 92,000 students will be given Benazir Undergraduate Scholarships through Rs6 billion while the number of Benazir Nashonuma program beneficiaries has been increased up to 1,500,000 through Rs32 billion.
A total of Rs35 billion has been allocated for providing targeted subsidy to the deserving people on rice, sugar, pulses and ghee.
The government has also withdrawn 10 percent regulatory duty on the import of second-hand clothes which are purchased by low income people most of the time.
A new Micro Deposits scheme will be started from July 1, 2023 for low income groups through National Savings Centers with more profit ratio.
The facility for opening digital accounts will also be available for the users.
Cash support on giving birth announced
In a statement regarding Benazir Income Support Programme, Federal Minister Shazia Atta Murri stated that a sum of Rs2,000 will be paid on the birth of a son and Rs 2,500 will be given on the birth of a daughter.
This programme aims to assist underprivileged families and advance gender equality.
The minister emphasised that the Benazir Income Support Programme is ready to provide around 9 million needy households across the nation with significant financial support.
The funding for ongoing projects under the programme would see a considerable hike, it was disclosed.
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