BISP’s New Budget Increases By 27%, Govt Has Allocated Rs593 Billion FY 2024-25
One of the biggest Good news for the 8171 ehsaas program Beneficaries from the Government of Pakistan, the government has announced Pakistan’s new Budget for the Years 2024-25, in this speech the finance minister announced a big relief for the poor people of Pakistan who are receiving help from Benazir Income Support Program.
In his speech, he announced that the Govt Increases BISP Budget By 27%, and Now the new amount allocated for the Benazir Income Support Program is Rs593 Billion for the next two years.
BISP’s Budget Increases By 27% to Rs 593 Billion – Latest Update
Finance Minister Muhammad Aurangzeb presented the national budget to the National Assembly for the fiscal year 2024–25 on Wednesday, June 12, 2024. He mentions in his speech the new, 27% increase in funding that the government has allotted for the the Benazir Income Support program.
The Finance Minister stated:
“The coalition government is determined to help the poor segments of society with financial assistance,”
Rs593 Billion will be given to the BISP Program
During his speech in the National Assembly, the finance minister described the increased rate of inflation in Pakistan due to which people are not able to manage their daily life necessities therefore increase of 27% for the poor’s assistance has been announced and now the new Budget for the Benazir Income Support Program is allotted Rs593 Billion.
BISP New Budget: From 471 Billion To 593 Billion [2024-25]
The BISP New Budget announcement is just like a ray of hope for the Beneficaries of the Benazir Kafalat Program who are managing their daily life necessities with the help of BISP Monthly Payments. In 2023 the Budget for BISP was announced 471 Billion by the government but after BISP’s budget increased by 27% for the years 2024-25 it has now become Rs593 Billion.
BISP Kafaalat Beneficaries are increased From 9.3 To 10 Million
BISP supports 93 lakh Poor people in Pakistan which has now increased by 10 Million after the new budget announced by Finance Minister Muhammad Auregzeb.
Benazir Income Support Program will enroll 100 lakh Beneficaries in the Benazir Kafaalat Program and it can be predicted that the next payment of BISP may increase from 10500. This is good news for all the eligible people who are registering for the Benazir kafalat Program as they will now enroll more women in this program according to the government announcement.
One million Eligible Student Can Register For Benazir Taleemi Wazaif
Here is another exciting announcement for Pakistan’s children of low-income Families who are eligible for the Benazir Monthly Wazifa for their educational requirements so that they can complete their education without any difficulty.
As a result, according to budget papers, Muhammad Aurangzeb gave careful consideration to the Benazir Taleemi Wazaif Children’s Assistance Program during his address. As a result, one million low-income students will be enrolled in the BISP’s education scholarship programs.
Conclusion:
The government’s decision to increase the Benazir Income Support Program (BISP) budget by 27% to Rs593 billion for the fiscal year 2024-25 underscores its commitment to supporting the most vulnerable segments of society. This significant budget boost will not only provide much-needed financial relief to over 10 million BISP beneficiaries but also expand educational opportunities for one million low-income students through the Benazir Taleemi Wazaif program. This enhanced allocation reflects the government’s dedication to fostering social welfare and improving the quality of life for its citizens.