IMF Approves 28.6% Increase In Benazir Kafalat Stipends

For everyone registered in the Benazir Kafalat Program 8171, there is positive news. The International Monetary Fund (IMF) has approved an increase in the quarterly payments provided to beneficiaries. Now, each beneficiary will receive Rs 13,500 instead of the previous Rs 10,500. This increase of Rs 3,000 represents a 28.6% rise in the stipends, aiming to support eligible women and their families more effectively.

IMF Approves 28.6% Increase In Benazir Kafalat Stipends

If there are women who are eligible and yet to register, they can still do so. The Tehsil offices are conducting the BISP NSER Survey to include new eligible women. Any woman who wishes to join the program should visit her local Tehsil office and provide her financial details. Completing this process will allow them to receive the newly increased payments from the Benazir Kafalat Program.

Significant Increase in Stipends

With this increase, the quarterly stipends for the Benazir Kafalat Program participants have now reached Rs 13,500. This change is expected to start benefiting recipients from January, ensuring more support for each household. This updated stipend is part of the broader objectives of the Benazir Income Support Program (BISP), which aims to help families manage their financial needs more efficiently. The increase in payments reflects years of effort by BISP to support eligible families and also provide vocational training to help them find stable employment.

IMF and World Bank Partnership to Strengthen BISP

The IMF and the World Bank are working together to improve the overall structure of BISP and its financial management. This collaboration seeks to make BISP a more effective and transparent program. In the current fiscal year, BISP has been allocated a budget of Rs 599 billion, representing around 0.5% of Pakistan’s Gross Domestic Product (GDP). This significant budget allocation shows the importance of this program in supporting Pakistan’s lower-income communities.

The main focus of BISP is to ensure that all eligible beneficiaries receive their payments transparently and respectfully. Rubina Khalid, a BISP representative, has emphasized that these payments are not a favor but a rightful distribution of funds meant to help the deserving.

Also Read: BISP Enrollment Now Open for New Applicants

New Conditions for Pakistan’s Loan with the IMF

The IMF has also outlined new conditions for Pakistan’s latest financial assistance package. The IMF encourages Pakistan to aim for economic stability and recommends essential reforms. These reforms include creating favorable conditions for the private sector, which would boost the economy and increase employment opportunities.

The approval of the Extended Fund Facility by the IMF Executive Board led to Pakistan receiving its first financial installment of $7 billion on September 27. This initial payment of SDR 760 million, approximately $1.02 billion, was received by the State Bank of Pakistan (SBP). This financial assistance is part of a larger effort to help Pakistan strengthen its economic foundation and improve social support programs like BISP.

Conclusion

The 28.6% increase in the Benazir Kafalat Program stipend is a meaningful relief for registered women across Pakistan. This increase means that the quarterly stipend for beneficiaries has gone up from Rs 10,500 to Rs 13,500. Women who qualify but are not yet registered can still visit their local Tehsil office to complete the BISP NSER Survey and become eligible for the improved stipend. The support from the IMF and the Government of Pakistan reflects a strong commitment to supporting Pakistan’s most deserving women and families, helping them achieve a more stable and dignified life.