The Government of Pakistan has increased funding for the Benazir Income Support Program (BISP) in the upcoming fiscal year. With a rise of 27%, the total amount of funds allocated has now exceeded 600 billion rupees, in order to provide more assistance to recipients. The additional funding will help improve the quarterly payments, expanding coverage to more households nationwide.
Expansion of BISP: 700,000 New Households to Benefit
BISP has announced plans to include an additional 700,000 households by the end of December 2024. The monthly Kafalat payments will also see a significant increase—from the current Rs. 10,500 to Rs. 13,500—benefiting over 10 million recipients.
Boost in BISP Budget for FY 2024-25
For the fiscal year 2024-2025, the federal government has allocated an increased budget for BISP, raising it from Rs. 450 billion to Rs. 593 billion. This enhancement is set to positively impact the Kafalat payments, which will be increased by Rs. 3,000 starting January 2025. Beneficiaries who complete their CNIC survey at BISP Tehsil Offices by the December 2024 deadline will be eligible for this increased support.
27% Budget Increase: A Commitment to Financial Support
During the budget announcement, the government underscored the importance of maintaining support through BISP. Information Minister Marriyum Aurangzeb highlighted the coalition government’s commitment to providing assistance to Pakistan’s vulnerable populations, emphasizing that BISP’s financial aid would continue uninterrupted.
In line with this, the government has raised the BISP budget by 27%, bringing it to a total of Rs. 593 billion for the upcoming fiscal year.
Kafalat Payments of Rs. 13,500 Set to Launch in January 2025
Under President Asif Ali Zardari’s instructions, BISP has declared a 20% raise in its quarterly payments. As a result of the increased budget, this modification will result in all qualifying women receiving Rs. starting in January 2025. 13,500 via a fresh, clear banking system. Recipients can receive their funds faster and more efficiently by using biometric verification at specified ATMs.
Conclusion
The government’s decision to increase BISP’s budget by 27%, totaling over Rs. 600 billion, aims to significantly enhance support for those in need across Pakistan. With plans to add 700,000 new households and raise the Kafalat payment from Rs. 10,500 to Rs. 13,500, the program is taking vital steps to provide greater financial relief.
These improvements, set to take effect from January 2025, will broaden BISP’s reach, ensuring continued assistance for vulnerable segments. Beneficiaries are encouraged to complete their CNIC surveys at BISP Tehsil offices before the December deadline to qualify for the increased payments.