Last Updated on: 4th November 2023, 05:46 am
Pakistan’s Budget 2023-24
The government of Pakistan recently unveiled its annual budget for the fiscal year 2023-24, with a strong emphasis on measures aimed at improving the country’s economic situation and alleviating poverty. This budget reflects a commitment to taking Pakistan out of its economic crisis and fostering development across various sectors.
The key objectives of this budget include providing employment opportunities for the unemployed, promoting the use of information technology, enhancing agricultural production through the adoption of advanced farming techniques, and strengthening the defense sector.
Moreover, the government has taken steps to enhance healthcare access, such as reducing taxes on medicines and providing healthcare services to those in need. Small and medium-sized enterprises (SMEs) also received attention in this budget, making it more conducive for them to operate.
The industrial sector has been a focal point for development, with the goal of increasing Pakistan’s exports. The government has raised the salaries of government employees and increased pension benefits for retirees.
Education has not been left behind, as several measures have been introduced to improve the educational system. Notably, the budget for the Benazir Income Support Program (BISP) has been substantially increased, signaling the government’s commitment to supporting the most vulnerable in society.
Benazir Income Support Program (BISP) and Its Growing Impact
The Benazir Income Support Program (BISP) is a flagship initiative of the Pakistani government aimed at eradicating poverty and unemployment. Numerous schemes operate under the BISP, with the primary goal of reducing poverty and joblessness in the country.
In the 2023-24 budget, the allocation for the BISP program has been significantly expanded to benefit more impoverished citizens. A remarkable increase of 40 billion rupees (approximately 25% higher) has been made in the budget for 2023-24 compared to the previous fiscal year (2022-23). This reflects a significant step toward supporting Pakistan’s disadvantaged populations.
BISP – A Look at the Old Budget (2022-23)
In the 2022-23 budget, the allocation for the Benazir Income Support Program saw substantial growth. While 250 billion rupees were designated for the program in the 2021-22 budget, this figure increased to 264 billion rupees in the 2022-23 budget.
Additionally, 12 billion rupees from the Utility Store Corporation were allocated to subsidize essential household groceries for those in need. Another 5 billion rupees were allocated for special Ramadan packages.
Through the BISP 8171 program, 226 billion rupees were disbursed to 9 million families under the Benazir Kafalat Cash Program, providing vital financial support to impoverished households. Furthermore, approximately 1 crore children received assistance worth 35 billion rupees under the Benazir Taleemi Wazaif Program.
An additional 21.5 billion rupees were distributed across all districts through the Benazir Nashonuma program. Lastly, 6 billion rupees were set aside in the Pakistan Baitul-Mal to provide free healthcare and assistance to deserving individuals.
Budget for BISP Schemes
The Benazir Income Support Program offers a wide range of facilities to assist underprivileged individuals across various sectors in Pakistan. Here are some noteworthy schemes under the BISP program:
1. BISP Kafalat Program: In the fiscal year 2023-24, 9,300,000 families in Pakistan will receive Benazir Kafalat Cash, amounting to 8,750 rupees per quarter through the BISP Kafalat Program. This substantial allocation of 346 billion rupees underscores the government’s commitment to supporting vulnerable households, with the potential for further increases in the future.
Eligible individuals can register for this program by texting their ID card number to 8171.
2. Benazir Taleemi Wazaif Program: The Benazir Education Scholarship Program, which previously supported 6 million children, is now set to benefit 8.3 million children, with a dedicated budget of over 55 billion rupees in 2023-24. This scholarship program aims to boost the morale of underprivileged students and empower them to excel in their education.
3. Benazir Undergraduate Scholarship: Approximately 92,000 university students will receive the Benazir Undergraduate Scholarship, with a budget allocation of 6 billion rupees in 2023-24.
4. Benazir Nashonuma Program: The Benazir Nashonuma Program, operational in all districts of Pakistan, continues to support vulnerable populations. The 2023-24 budget allocates 32 billion rupees for this program, benefiting pregnant women and children under two years of age.
How to Register in Ehsaas BISP 8171 Program 2024?
Step 1: Understand the Purpose
– Understand that the government aims to expand social and economic security programs through a new screening and registration process as part of the Ehsaas Kafalat program.
Step 2: Eligibility
– Check if your family is not yet registered under the Benazir Income Support Program, as this new registration process applies to those who aren’t registered under the program.
Step 3: Registration
– Register under the Benazir Ehsaas 8171 Program to become eligible for financial support from the government.
Step 4: Simple and Free
– Know that the registration process is simple and free of charge.
Step 5: Visit Designated Centers
– Visit the designated 8171 centers with your National Identity Card for the registration process.
Step 6: Beware of Unauthorized Messages
– Be cautious about any messages you receive from a number other than 8171. Consider them unreliable and report them to the authorities to prevent fraud.
Step 7: Participate in the Prosperity Survey
– Understand that your participation in the prosperity survey is essential to access government support programs.