Tuesday , October 27 2020
Breaking News
Home / Business / Govt raises stipend for BISP beneficiaries

Govt raises stipend for BISP beneficiaries

ISLAMABAD: Federal Finance Minister Ishaq Dar said that he had consulted the Prime Minister Nawaz Sharif regarding increase in the stipend for BISP beneficiaries and it has been decided to increase the annual stipend to BISP beneficiaries from Rs 18000 to Rs 18800 per annum in accordance with the increase in CPI during the last year. The decision would contribute to mitigating the effect of inflation on the BISP beneficiaries, he added.
The stipend at the enhanced rate of Rs 4700 per beneficiary per quarter would be payable with effect from July 1, 2015. The arrears would be paid along with the next installment, the Finance Minister added. The Finance Division has already issued instructions to BISP to ensure disbursement of quarterly stipend at the enhanced rate.
The present government, he said, is fully committed to protecting the most vulnerable segments of the society and for this purpose the annual allocation for BISP has been enhanced by the present government from Rs 40 billion to Rs 105 billion while the annual stipends have been enhanced from Rs 12000 to Rs 18000 during the last two years. These have now been further increased to Rs 18800 per beneficiary per annum.

Exit mobile version