Sunday, July 14, 2024

Govt Increases Benazir Income Support Budget to Rs. 593 Billion

To provide significant relief to disadvantaged communities, the federal government has raised the budget for the Benazir Income Support Programme (BISP) to Rs. 593 billion. This is a substantial 29% increase from the previous year’s allocation.

Finance Minister Muhammad Aurangzeb announced that the number of beneficiaries under the Benazir Kafaalat scheme will rise from 9.3 million to 10 million. This expansion aims to provide higher stipends to account for inflation, ensuring more families receive the financial support they need.

Furthermore, the Benazir Education Stipend scheme will now benefit 10.4 million children, helping them stay in school and continue their education. In an effort to combat stunted growth in children, an additional 500,000 families will be included in the Benazir Nashonuma Programme.

BISP is also launching new initiatives to promote economic inclusion and self-sufficiency among the disadvantaged.

These include the Poverty Graduation programme, which will help families transition out of poverty, the Skill Development programme, which will offer vocational training, and the Hybrid Social Protection programme, which aims to provide a combination of financial assistance and opportunities for economic growth.

These comprehensive measures reflect the government’s commitment to addressing poverty and supporting vulnerable populations, ensuring they have access to the resources and opportunities needed for a better quality of life.

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