Good News: IMF Approves Increase In Benazir Kafaalat Stipend

Introduction

Increase In Benazir Kefala Stipend

Good News: IMF Approves Increase In Benazir Kafaalat Stipend, Finally, the waiting hours are over. The International Monetary Fund (IMF) has recently approved an increase in the financial assistance provided under the Benazir Kafaalat program. This initiative is an important link to take the existing poor and deserving families out of the poverty level and strengthen the social security system in Pakistan. It should be remembered that the Benazir Kafalat Program is a social security network run under the Benazir Income Support Program through which financial assistance is provided to millions of women belonging to poor and deserving families. According to the latest data, about 9.5 million families are currently benefiting from the kafalat program, to which the government of Pakistan is providing cash financial assistance on a quarterly basis.

In this article, you will get to see complete information regarding the increase in financial aid. Along with this, you will be told with complete details when this increase will be applied. Further in this article, you will get to see the latest information regarding the new registration. If you belong to a poor and deserving family, then this article will be very helpful for you, and if you are interested in getting complete information, then you need to read the article completely. Good News: IMF Approves Increase In Benazir Kafaalat Stipend.

Also Read: Now Complete Your PSER Survey Online At Home

Details Of Increase In Stipend

If we talk about the increase approved by the IMF, let us tell you that the quarterly financial assistance provided to the beneficiaries under the Benazir kafaalat program has been increased by 3,000. After which Where first the beneficiaries were provided financial assistance of Rs.10500 on a quarterly basis; now they will get Rs.13500 later. And if we talk about when this increase will be implemented, then let us tell you that this increase will be effective from January 2024, which will provide more financial relief to the deserving families and they will be able to improve their standard of living.

This decision has been taken by the IMF to protect the poor and deserving families in Pakistan from the effects of inflation and the economic crisis. It is hoped that after this increase, the impact on the deserving families will be felt as soon as possible, and now they will be able to get out of the poverty level faster.

اگر ائی ایم ایف کی جانب سے منظور کردہ اضافے کی بات کی جائے, تو اپ کو بتاتے چلیں کہ کفالت پروگرام کے تحت مستحقین کو فراہم کی جانے والی سہ ماہی مالی امداد میں 3,000 کا اضافہ کیا گیا ہے. جس کے بعد جہاں پر پہلے مستحقین کو سہ ماہی بنیادوں پر 10500 کی مالی امداد فراہم کی جاتی تھی, اب انہیں 13500 بعد ملے گی. اور اگر بات کریں کہ اس اضافے کا اطلاق کب سے ہوگا تو اپ کو بتاتا چلوں یہ اضافہ جنوری 2024 سے نافذ العمل ہوگا جس سے مستحق خاندانوں کو مزید مالی رلیف ملے گا اور وہ اپنے معیاری زندگی کو مزید بہتر بنا سکیں گے

Role of IMF and World Bank

If we talk about the role of the IMF and the World Bank considering this increase, let me tell you that at this time the IMF is working with the World Bank to further improve the Benazir Income Support Program and its management system. Which is a very welcome move. And if we look at the BISP budget, the budget for the current financial year is Rs 599 billion, which is 0.5 percent of the total GDP of Pakistan, and it represents an increase of 27 percent over the previous year. Good News: IMF Approves Increase In Benazir Kafaalat Stipend.

Also Read: New Registration In Benazir Taleemi Wazaif Program Continues

New Registrations As Well As New Initiatives And Reforms

Let’s take the article further and talk about new registrations as well as new initiatives and reforms. So first of all, let me tell you that where the financial assistance of the Benazir kafaalat program has been increased, new registration has also been started for the next three years. So that financial assistance can be provided to more poor and deserving families by being a part of this program who are forced to live below the poverty line. Along with this, a new electronic payment model is being piloted by the Benazir Income Support Program, which will make it possible to pay the assistance money to the beneficiaries on time, and the transparency system will also be improved. As soon as the pilot fee of the new electric payment model by BISP is over, then this new model will be started slowly in other cities as well. It is expected that this new electronic payment model will be fully operational from January 2025.

IMF Approves Increase In Benazir Kafaalat Stipend

Conclusion

The approval of the IMF to increase the financial assistance to the Benazir Kafaalat program beneficiaries is a big relief, with which these people belonging to deserving families are now eligible to get 13,500 quarterly financial assistance instead of 10,500. In fact, the main purpose of this increase is to make the poor and deserving families more economically stable so that they can remove themselves from the poverty level as soon as possible. Along with this, where the stipend of the kafaalat program has been increased, new registration has also been formally started, which will continue for the next three years. So this is great news for poor and deserving families who have not yet completed their registration process, as now they can complete their registration process anytime within the next 3 years.

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