The amount of 10500 in the BISP program has been increased to 13500. In addition, the registration of seven lakh families has been completed for new registration. The registration of new families will be ensured by December 2024. After the registration process is completed in the first phase, an amount of 13500 will be distributed in the next installment of the BISP program instead of 10500.
In a significant development, the federal government of Pakistan has successfully negotiated with the International Monetary Fund (IMF) to increase the monthly stipend under the Benazir Income Support Program. The decision reflects a positive step towards addressing the economic challenges faced by low-income households across the country. The monthly stipend has been increased from 10500 to 13500, a significant increase aimed at providing relief to the weaker sections of the society.
IMF Negotiations Conclude Successfully
A series of five-day negotiations between Pakistani officials and an IMF delegation culminated in Islamabad recently. The talks focused on key fiscal measures, including social safety net expansions, provincial budget surpluses, and taxation reforms. The IMF agreed to the proposed increase in BISP program payments after being assured by the Pakistani government that there would be no reductions in the overall budget.
The discussions involved various stakeholders, including Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, provincial government representatives, and Federal Board of Revenue (FBR) officials. According to sources, the Pakistani delegation emphasized the importance of increasing financial support for underprivileged families, particularly in the wake of rising inflation and economic challenges.
BISP program Provincial Budget 2024-25
The IMF’s approval was influenced by Pakistan’s ability to exceed fiscal targets. Officials reported a provincial cash surplus of 360 billion in the first quarter of the 2024-25 fiscal year, surpassing the original target of 342 billion. This achievement highlights effective fiscal management at both federal and provincial levels.
Punjab contributed significantly to the surplus, recording a 40 billion positive balance during the reporting period. Such performance demonstrates the government’s commitment to adhering to IMF conditions, which is crucial for unlocking further financial assistance from international lenders.
Impact on Vulnerable Communities
The increase in BISP program stipends comes as a welcome relief for millions of households struggling with the high cost of living. With inflation rates hitting record highs, the enhanced payments will help families afford basic necessities such as food, healthcare, and education.
This development also underscores the importance of social safety nets in mitigating the impact of economic crises. By prioritizing financial assistance for the most vulnerable segments, the government aims to reduce poverty levels and promote inclusive growth.
Future Implications of 13500 Stipend
The successful negotiations with the IMF not only pave the way for increased social welfare spending but also bolster Pakistan’s credibility with international lenders. Meeting fiscal targets and introducing tax reforms demonstrate the country’s ability to implement structural changes necessary for long-term economic stability. Some brief benefits are as follows:
- Eligible women will receive additional money to meet their household needs
- Children will receive scholarships to meet their education expenses
- Families suffering from food shortage will be provided with financial assistance
- Arrangements will be made for the registration of seven lakh new families
- BISP system will be upgraded
- Education, food shortage will be met
- Eliminating poverty in Pakistan will be ensured
- Employment will be provided for the youth
BISP program Stipend Payment Increase Latest Update
BISP program is a vital social safety net that provides direct cash assistance to millions of deserving households in Pakistan. The decision to increase the stipend by 35% aligns with the government’s commitment to improving the standard of living for marginalized communities.
The revised stipend will enable families to better cope with soaring prices of essential commodities. This initiative is particularly significant as inflation continues to erode purchasing power, disproportionately affecting low-income households.
You May Love To Read: BISP 13500 Through JazzCash, Easypaisa And Bank Account
Conclusion
The IMF’s approval to increase the BISP program stipend marks a significant milestone in Pakistan’s economic journey. This move reflects a balanced approach between fiscal discipline and social welfare, ensuring that economic reforms do not come at the cost of the country’s most vulnerable citizens.
As the government continues to address fiscal challenges, initiatives like the enhanced BISP program payments offer hope and relief to millions of families. By maintaining focus on both economic stability and social protection, Pakistan is taking important steps toward a more inclusive and resilient future.