New Budget for BISP increases by 27%, Govt allocates Rs593 billion for FY 2024-25

One of the biggest Good news for the 8171 ehsaas program Beneficiaries from the Government of Pakistan is that the government has announced Pakistan’s new Budget for the years 2024-25. In his speech, the finance minister announced a big relief for the poor people of Pakistan who receive Benazir Income Support Program assistance.

According to his speech, the Govt Increases BISP Budget By 27%, and now the new amount allocated for the Benazir Income Support Program is Rs593 billion.

The BISP budget increased by 27% to Rs 593 billion in the latest update

A national budget for the fiscal year 2024–25 was presented to the National Assembly by Finance Minister Muhammad Aurangzeb on June 12, 2024. As part of his speech, he mentions the new, 27% increase in funding allocated to the Benazir Income Support program by the government.

According to the Finance Minister:

“The coalition government is committed to providing financial assistance to the poor.”

Rs593 Billion will be given to the BISP Program

According to the finance minister’s speech in the National Assembly, Pakistan’s inflation rate has increased, which has caused people to be unable to meet their daily needs. As a result, a 27% increase was announced in the poverty assistance budget and now Rs593 billion has been allocated to the Benazir Income Support Program.

New BISP Budget: From 471 Billion to 593 Billion [2024-25]

The BISP New Budget announcement is just like a ray of hope for the beneficiaries of the Benazir Kafalat Program who manage their daily life necessities with the help of BISP Monthly Payments. As of the year 2023, the government had announced a budget of Rs471 Billion for BISP, but after an increase of 27% in budget for 2024-25, it now amounts to Rs593 Billion.

The number of BISP Kafaalat beneficiaries is increased from 9.3 million to 10 million

BISP supports 93 lakh Poor people in Pakistan which has now increased by 10 Million after the new budget announced by Finance Minister Muhammad Auregzeb. 

According to a government announcement, the Benazir Income Support Program will enroll 100 lakh beneficiaries in the Benazir Kafaalat Program, and it is likely that the next BISP payment will increase from 10500. In accordance with the government announcement, more women will now be enrolled in the Benazir Kafalat Program, which is good news for all those eligible to participate.

Benazir Taleemi Wazaif is open to one million eligible students

There is another exciting announcement for Pakistan’s low-income families that their children are eligible for the Benazir Monthly Wazifa for their educational requirements.

Consequently, Muhammad Aurangzeb gave careful consideration to the Benazir Taleemi Wazaif Children’s Assistance Program during his address, which will result in one million low-income students receiving education scholarships through the BISP.

In conclusion:

The recent decision by the government to raise the BISP budget by 27% to Rs593 billion for fiscal year 2024-25 demonstrates its unwavering dedication to aiding society’s most disadvantaged groups. This considerable increase in funds will not only alleviate financial burdens for over 10 million BISP recipients but also open doors for one million underprivileged students through the Benazir Taleemi Wazaif program. This enlarged budget allocation is a testament to the government’s ongoing efforts towards promoting social welfare and enhancing citizens’ overall well-being.