IMF Calls For Increased BISP Payments: Major Boost For 9.5 Registered Families

According to the most recent information from Pakistan’s Government, the new budget approved by the IMF has increased the BISP Payments for more than 9.5 Million families. It is a piece of big news for all the Beneficiaries who have been disappointed due to delays in Payments or their status showing ineligibility.

Now they can apply for the Benazir Kafalat program through the BISP New Dynamic Survey that has been started across all the Teshil offices in Pakistan.

IMF Urges Pakistan to Enhance BISP Payments for Family Welfare

The Benazir Income Support Programme (BISP) payments from Pakistan have been called for to be increased by the International Monetary Fund (IMF) due to the country’s continued economic difficulties and the need for more social protection measures. The group stressed how critical it is to fortify social safety nets to lessen the negative consequences that fiscal adjustments and economic reforms will have on low-income households.

IMF Recommendations For Expanding The BISP

IMF has not only urged Pakistan to increase its overall budget for the Beneficaries but it also suggests expanding its limit for eligible people so that they can combat and overcome poverty in a more fast way.

For this reason, they presented the following recommendations:

Boost BISP Payments: The IMF has recommended that the government give BISP participants more financial assistance. This raise is essential to assist families in adjusting to inflation and growing living expenses.
Increase Coverage: The IMF suggests extending the BISP’s reach to additional families who require financial support but aren’t already receiving it.
Boost Program Efficiency: The IMF suggests making the BISP more transparent and efficient to make sure that money is getting to the right people. Better targeting strategies and lower administrative expenses are part of this.

Budget for BISP in 2024

The BISP Program’s financial plan has been enhanced by the Pakistani government for 2024. The government has increased the BISP budget by 27% for the upcoming year.

Numerous steps incorporated in this Budget 2024 to lessen Pakistan’s economic pain and save the nation from its current financial catastrophe have benefited Pakistan. This budget presentation’s main objective is to eradicate poverty in Pakistan.

Benazir Kafalat Program – Latest Update

In 2024, 9300000 families in Pakistan will get Benazir Kafalat cash at a rate of 8750 rupees every quarter under the Benazir Kafalat scheme. This suggests that the eligible members of the BISP 8171 program will be paid 8750 rupees every three months. The budget for 2024 has 346 billion rupees designated for the Benazir program.

Enrollment in the Benazir Kafalat program is available.

Send your 13-digit CNIC number to 8171.
If you are approved for this program, you will start getting this money from BISP every three months.
To confirm your eligibility for the BISP Check Online program,
you can also SMS your CNIC number to 8171.

Conclusion

The IMF’s call for increased BISP payments is a significant development for over 9.5 million families in Pakistan. With the enhanced budget and new recommendations, the Benazir Income Support Programme aims to provide better financial assistance, expand coverage, and improve efficiency.