The recently announced Federal Budget for the fiscal year 2024-25 has earmarked a substantial amount of 593 billion rupees for the Benazir Income Support Program (BISP). This initiative aimed at providing crucial relief to the most marginalized segments of society.
Compared to the previous year, the budget for BISP has seen a significant increase of up to 2000 rupees, marking a remarkable 29% surge to reach 593 billion rupees. This boost underscores the government’s commitment to addressing the needs of vulnerable communities.
One of the key components of this budget allocation is the expansion of the Ehsaas Kafalat Program, which caters to deserving individuals receiving a three-month stipend. The program has witnessed a rise in eligible beneficiaries from 9.3 million to a commendable 10 million. Moreover, adjustments have made to the stipend amount to account for the prevailing inflationary pressures, ensuring beneficiaries receive adequate support.
In the realm of education, the Benazir Education Stipend Scheme set to welcome approximately 100,000 additional students. This expansion will elevate the total number of stipend beneficiaries to an impressive 10.4 million, emphasizing the government’s focus on promoting education among underprivileged segments.
Looking ahead, the government plans to further enhance its social welfare initiatives. The Ehsaas Nashonuma Program slated to include an additional 500,000 families in the coming fiscal year. This program specifically designed to combat stunting in children during their crucial developmental phase within the first 1000 days of life.
Furthermore, the budget emphasizes economic inclusion through initiatives like the Poverty Graduation and Skill Development Programs under the BISP umbrella. These efforts geared towards empowering individuals economically and enhancing their financial well-being.
Additionally, the introduction of the Hybrid Social Protection Program by BISP aims to provide financial freedom to lower-income groups, further reinforcing the government’s commitment to uplifting the socio-economic status of all citizens.
The allocation of 593 billion rupees to the Benazir Income Support Program reflects a strategic investment in social welfare and economic prosperity, showcasing the government’s proactive approach towards addressing the needs of the most vulnerable segments of society.
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