The Pakistani government will give more money to the BISP. Next year, the budget will be a record Rs593 billion. The government decided this after talking with the International Monetary Fund (IMF). The IMF wants more people to get help and receive more money because prices are going up. The budget is Rs592.5 billion – to be precise. It is Rs121 billion, or 26%, higher than the last budget.
The BISP is Pakistan’s key social safety net. It aims to lessen the impact of inflation on the country’s poorest people. These people are mostly affected by the policies of the government and the IMF.
Impact of the BISP Increased Budget
The new budget for BISP is Rs593 billion.
- This is 26% more than last year’s Rs472 billion.
- The extra money will help more families and give them more cash.
- New Budget: Rs593 billion for next year.
- Beneficiaries: 9.6 to 9.7 million people will get help.
- Current Beneficiaries: 9.3 million people get help from the Kafaalat program now.
- More Compensation: Each family will get about Rs13,000 every three months, up from Rs10,500.
- IMF Advice: Focus on helping with inflation, healthcare, education, and electricity costs.
IMF’s Role and Recommendations
The IMF played a big role in the new budget plan.
They made these suggestions:
- Add More Families: Include more families in BISP to help with rising prices.
- Raise Compensation: Make sure the money given increases with inflation so families can still buy what they need.
- Electricity Help: Only give electricity subsidies to BISP families and offer direct cash instead of general help.
- Health and Education: Use cash transfer programs to improve health and education for families.
Conclusion
The new BISP budget of Rs593 billion is a big help for Pakistan’s poorest families. With the IMF’s advice, the government wants to make the program better.
More families will get help, and the money will match rising prices. This plan helps now and aims to improve health and education in the long run for the neediest people.
Also Read: Benazir Income Support Programme News Latest Update in 2024
FAQs
1. What is the new BISP budget?
The new BISP budget is Rs593 billion.
2. How much did the budget increase?
The budget increased by 26% from last year’s Rs472 billion.
3. Who will enjoy this budget?
The budget aims to help 9.6 to 9.7 million families.
4. How many people currently receive help?
Currently, 9.3 million people receive help from the Kafaalat program.
5. How much will families receive now?
Families will get about Rs13,000 every three months, up from Rs10,500.
6. What did the IMF recommend?
The IMF recommended adding more families. It also called for increasing compensation with inflation. It wants to restrict electricity subsidies to BISP families. And it wants to improve health and education with cash transfers.