Budgetary allocations for BISP increased to mitigate sufferings of poor segments

BISP to release 4th quarterly tranche of Rs 9k for FY-2022-23 from Monday

ISLAMABAD, Jun 9 (APP): The present government has increased the budget of Benazir Income Support Program (BISP) up to Rs 400 billion as compared to the last year’s allocation of Rs. 360 billion, in order to mitigate the sufferings of the poorest segments of society.

According to the budget speech presented in the National Assembly on Friday, the budget of BISP was expected to be increased up to Rs 450 billion by the next Fiscal Year.

The BISP is a flagship program of the government and implementing various schemes for the welfare of downtrodden segments.

During the last year’s budget, the present government increased the budgetary allocation of BISP from Rs 250 billion to
Rs 360 billion.

During the year 2023-24, 9.3 million families will be provided quarterly assistance of Rs 8,750 under the Benazir Kafalat scheme for which Rs 364 billion has been allocated.

While the amount will be increased further considering the inflation rate.

The scope of Benazir Education Stipends has been increased from six million children (52 percent girls) beneficiaries to 8.3 million children with allocation of Rs 55 billion.

As many as 92,000 students will be given Benazir Undergraduate Scholarships through Rs 6 billion while the number of Benazir Nashonuma program beneficiaries has been increased up to 15,00,000 through Rs 32 billion.

A total of Rs 35 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The government has also withdrawn 10 percent regulatory duty on the import of second-hand clothes which are purchased by low income people most of the time.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.

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