The IMF has agreed to increase by 3,000 the amount of money that the Benazir Kafaalat program and the World Bank are working together to improve the Benazir Income Support Programme and the way it is run. This is because of the part that these two organisations play in this rise. This is an incredibly good move. For this fiscal year, the BISP has a budget of Rs 599 billion, which is equal to 0.5% of Pakistan’s GDP. This is 27% more than the same time last year.
Benazir Income Support Program runs the Benazir Kafala
Millions of women from poor families who deserve help get money through this network. The Kafala program, which the government of Pakistan runs every three months, is currently disbursing money to about 9.5 million people, according to the most recent data.
Details about the increase in the stipend
This piece will tell you everything you need to know about the increase in financial aid. Additionally, you will be given complete details regarding the date on which this raise will take effect. In the parts that follow, the most up-to-date information about the new registration will be given. For people from poor homes who deserve better, this piece will be very helpful. If you want to get complete information, you must read the whole piece.
What the International Monetary Fund (IMF) Does and the
I want to let you know that the IMF and the World Bank are working together to improve the Benazir Income Support Program and the way it is run. This is because of the part that these two organisations play in this rise. This is an incredibly good move. For this fiscal year, the BISP has a budget of Rs 599 billion, which is equal to 0.5% of Pakistan’s GDP. This is 27% more than the same time last year.
There are new projects and changes, as well as new applications.
We should keep talking about the story by talking about new registrations, projects, and changes. First, I want to let you know that the Benazir Kafaalat program has started new registration for the next three years in places where financial help has been raised. It is important to take part in this program in order to help more needy families who live below the poverty line with money.
The Benazir Income Support Programme is also trying a new computer payment plan that will make it easier to see how the system works and make sure that people who are supposed to get help get it on time. Once BISP’s trial charge for the new energy payment model is over, the new model will be slowly put into place in other places. People think that this new way of making internet payments will work perfectly starting in January 2025.
Programme runs the Benazir Kafala
The International Monetary Fund (IMF) has given the go-ahead for an increase in the stipends provided under Pakistan’s Benazir Kafaalat program, part of the broader Benazir Income Support Programme (BISP). This measure aims to support lower-income families in coping with inflationary pressures.
IMF’s approval to increase the Benazir Kafaalat stipend
| Details | Information |
|---|---|
| Programme Name | Benazir Kafaalat Programme (Part of BISP) |
| Current Stipend | PKR 9,000 |
| New Stipend (Effective January 2025) | PKR 13,500 |
| Increase Percentage | Approximately 50% |
| Beneficiary Count | Increased from 9.3 million to 10 million |
| Budget Allocation (FY 2024-25) | PKR 593 billion |
| Reason for Increase | Combat inflation and support low-income families |
| Approval Involvement | IMF approval for social protection expansion |
| Implementation Start Date | January 2025 |
Starting January 2025, the quarterly stipend will rise from the current amount to PKR 13,500. This increase aligns with government efforts to expand social safety nets, with BISP beneficiaries already increasing from 9.3 million to 10 million individuals earlier this year. The decision is expected to provide much-needed relief to the most vulnerable segments of the population amidst challenging economic conditions
Conclusion
It is very good news that the IMF has agreed to give more money to people who are benefiting from the Benazir Kafaalat programme. This is because these people, who come from families that deserve it, can now get $13,500 in weekly financial aid instead of the previous $10,000. The main goal of this raise is to make poor and deserving families’ finances more stable, which will help them quickly get out of poverty. In addition, the stipend for the kafala programme has been raised, and registration for new participants has begun.
For the next three years, this process will go on. Unfortunately, families who are poor and deserve better can now finish the registration process at any time in the next three years. This is great news for those families. There’s still work to do.
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