Sat. Nov 23rd, 2024
Increased BISP Budget for New InstallmentsIncreased BISP Budget for New Installments

Last Updated on: 8th October 2024, 04:04 pm

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The Benazir Income Support Program (BISP) received a 27% increase in its budget for the new fiscal year. The government of Pakistan has allocated more than Rs. 600 billion with the objective of helping more people through the program by increasing the number of beneficiaries and the amount of quarterly installments.

BISP decides to extend assistance to 700,000 more families by the end of December 2024 while increasing the monthly Kafaalat payment from Rs 10,500 to Rs 13,500 for the current 1 crore beneficiaries.

Increased BISP Budget for New Installments

Increased BISP Budget for New Installments: What’s Changing?

For the fiscal year 2024–25, the government has increased the BISP budget from Rs 450 billion to Rs 593 billion. This increase will directly impact the quarterly installments under the BISP Kafaalat Program. From January 2025, registered beneficiaries who complete their recertification process at BISP Tehsil offices will receive an additional Rs 3,000 per installment.

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Govt’s Commitment to BISP Budget Hike

The federal government, along with key ministers, has stated the importance of continuing to support vulnerable sections of society. Senior Minister of Punjab Marriyum Aurangzeb mentioned the coalition government’s objective to provide maximum assistance to the weaker sections through BISP. The new budget of Rs 593 billion reflects this commitment to provide financial assistance to millions of Pakistanis.

New BISP Kafaalat Payment of Rs 13,500 from January 2025

Under the leadership of President Asif Ali Zardari and the government, BISP will increase its quarterly installment by 20%, increasing the amount to Rs 13,500. This allocation will begin in January 2025, and all eligible women will receive their payments through a transparent banking system. Beneficiaries can get their money through biometric verification at designated ATMs, providing additional convenience and reducing the need for long queues.

Last Words

With the 27% budget increase, BISP is expanding its scope and providing more financial support to needy families. Early 2025 will see the implementation of the new decisions, including the increase in Kafalat payment, and we encourage beneficiaries to complete their CNIC surveys at local BISP offices by December to ensure uninterrupted support.

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