A Major Boost For 9.5 Registered Families | IMF Calls For Increased BISP Payments [2024]

Over 9.5 million families have received more BISP payments as a result of the new budget approved by the IMF, according to the most recent information provided by the Pakistani government. This is great news for all the beneficiaries who have been disappointed due to delays in payments or ineligibility.

All Teshil offices in Pakistan can now apply for the Benazir Kafalat program through the BISP New Dynamic Survey.

Pakistan is urged by the IMF to enhance BISP payments for family welfare

As a result of Pakistan’s continued economic difficulties and the need for more social protection measures, the International Monetary Fund (IMF) has urged the Benazir Income Support Programme (BISP) payments to be increased. In order to reduce the negative consequences fiscal adjustments and economic reforms will have on low-income households, social safety nets must be strengthened.

BISP Expansion Recommendations from the IMF

As well as urging Pakistan to increase its overall budget for the Beneficaries, it also suggested expanding the number of eligible beneficiaries in order to combat and overcome poverty faster.

As a result, they made the following recommendations:

Boost BISP Payments: The IMF recommends that the government provide more financial assistance to BISP participants. This raise is essential to help families cope with inflation and rising living expenses.
Increase Coverage: The IMF suggests extending the BISP’s coverage to additional families that do not already receive financial assistance.
Boost Program Efficiency: IMF suggests making BISP more transparent and efficient to ensure that money reaches the right people. It also suggests lowering administrative costs and better targeting strategies.

BISP budget for 2024

The Pakistani government has enhanced the BISP Program’s financial plan for 2024, increasing the program’s budget by 27%

In this Budget 2024, many steps have been taken to lessen Pakistan’s economic pain and save the nation from its current financial crisis. The primary objective of this budget presentation is to eradicate poverty in Pakistan.

Update on the Benazir Kafalat Program

Under the Benazir Kafalat scheme, 9300000 families in Pakistan will receive Benazir Kafalat cash in 2024 at an annual rate of 8750 rupees. This implies that BISP 8171 participants will receive 8750 rupees every three months. A budget of 346 billion rupees has been allocated for Benazir Program.

The Benazir Kafalat program is open for enrollment.

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

In conclusion

For over 9.5 million Pakistani families, the IMF’s call for increased BISP payments is a significant development. Benazir Income Support Programme will improve financial assistance, expand coverage, and improve efficiency with the enhanced budget and new recommendations.

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