The present government, after inheriting Benazir Income Support Programme (BISP), has spent Rs 40 billion and enhanced allocation to this special programme to Rs 97 billion.
Reaching out to the poor is a major policy objective of the government and the main intervention designed for this purpose is National Income Support Programme (NISP) which consists of BISP and Prime Minister’s Youth Programme (PMYP).
Sources at the finance division said on Sunday that during this fiscal year, the government designed NISP with an enhancement in allocation to Rs 118 billion (Rs 97 billion for BISP and Rs 21 billion for PMYP).
The sources said that disbursement to each beneficiary under BISP had also been increased from Rs 1,000 to Rs 1,500 per month and the number of beneficiaries targeted for current financial year was 5.3 million.
Highlighting the programme of the government to eradicate poverty in the country along with the mechanism adopted to execute such tools, the sources mentioned Waseela-e-Taleem Programme under which children of the beneficiary families aged 5-12 are to be supported for primary education with cash transfer of Rs 250 per child (up to a maximum of three children) subject to compliance with required school attendance per family in various districts.
Moreover, the government also allocated an amount of Rs 2.00 billion to Pakistan Bait-ul-Mal (PBM) to undertake different programmes for the poor and the disadvantaged in the current year while the same amount was also allocated to Pakistan Poverty Alleviation Fund (PPAF).
With regard to new initiatives, the sources said, the government has kept Rs 21 billion and under PM’s Youth Business Loans Scheme, loans ranging from Rs 100,000 to Rs 2,000,000 are being provided. Mark-up at the rate of 8 percent is paid by the beneficiary while the remaining cost is to be borne by the government.
They said the government would also bear 5 percent of the portfolio losses of the participating banks, adding that to ensure recovery, banks’ charters provide that the loan must be guaranteed.
