ISLAMABAD, Oct 1 (APP): The PNL-N Government has decided to increase the stipend from Rs. 18,800 to Rs. 19,338 per annum for the beneficiaries of Benazir Income Support Programme (BISP), said Ministry of Finance sources.
Finance Minister, Senator Muhammad Ishaq Dar had a detailed discussion with the Prime Minister regarding increase in the stipend for BISP beneficiaries.
The sources added that the Prime Minister has approved increase in the annual stipend to BISP beneficiaries from Rs. 18,800/- to 19,338/- per annum.
The sources quoting Finance Minister Ishaq Dar added that this increase was in accordance with the increase in Consumer Price Index (CPI) during the last year and this decision of the government would contribute to mitigating the effect of inflation on the BISP beneficiaries.
The stipend at the enhanced rate of Rs. 4834/- per beneficiary per quarter would be payable with effect from July 1, 2016.
“The arrears would be paid along with the next installment”.
The Finance Division has already issued instructions to BISP to ensure disbursement of quarterly stipend at the enhanced rate.
In a statement the Finance Minister said that the present government was fully committed to protecting the most vulnerable segments of the society and for this purpose the annual allocation for BISP has been enhanced by the present government from Rs.40 billion to Rs.115 billion while the annual stipends have been enhanced from Rs. 12000/- to Rs.18,800/- during the last three years.
These have now been further increased to Rs.19338/- per beneficiary per annum, he remarked.