‘In larger interest’: BISP board approves de-crediting policy
Money obtained will be used to meet the operational expenditures of the income support programme
Money obtained will be used to meet the operational expenditures of the income support programme. PHOTO: INP
ISLAMABAD:
Benazir Income Support Programme on Thursday approved the proposed de-crediting policy ‘in the larger interest of its beneficiaries’ as it granted approval to spend the de-credited amount to meet operational expenditures.
The decision was taken during the BISP’s 25th board meeting chaired by BISP Chairperson Marvi Memon. This was the fourth BISP board meeting since Memon assumed office in February last year.
Under the BISP – launched in July 2008 with the immediate objective of cushioning negative effects of slow economic growth, food crisis and inflation on the poor – Rs1,500 per month is transferred to each eligible family.
However, under the new policy the transferred amount will be taken back or de-credited, if it is not taken out of the bank account within a specified time, ie, one year.
During her welcome note, the BISP chairperson shared recent initiatives undertaken by the organisation. “As the BISP is ready to update National Socio Economic Registry (NSER), we would make sure that the whole of the country is covered equally in the NSER update,” she said.
Memon said the technologically superior solutions would be employed to maximise the accuracy for NSER upgradation, adding that “we are moving towards dynamic registry for the first time in history.”
The board members were provided with detailed briefing by the management on the progress on the NSER update, to be carried out in two phases.
In the first phase, survey in 16 districts throughout the country – including Azad Jammu and Kashmir (AJK), Gilgit-Baltistan (G-B) and Federally Administrative Tribal Area (Fata) – will be initiated from June 2016. In second phase, there will be national rollout of the re-survey. It was further informed that principal approval for update had been granted by Finance Minister Ishaq Dar.
Since its inception, the BISP has grown rapidly and is the largest single social safety net programme in Pakistan’s history. The number of beneficiaries has increased from 1.7 million households in 2008-2009 to approximately 4.7 million in December 2014.
The BISP’s annual disbursements have risen from Rs16 billion in 2008-2009 to Rs65 billion in 2013-2014. This year, the disbursements to beneficiaries are expected to reach Rs90 billion, according to the BISP website.
Published in The Express Tribune, February 26th, 2016.
Benazir Income Support Programme on Thursday approved the proposed de-crediting policy ‘in the larger interest of its beneficiaries’ as it granted approval to spend the de-credited amount to meet operational expenditures.
The decision was taken during the BISP’s 25th board meeting chaired by BISP Chairperson Marvi Memon. This was the fourth BISP board meeting since Memon assumed office in February last year.
Under the BISP – launched in July 2008 with the immediate objective of cushioning negative effects of slow economic growth, food crisis and inflation on the poor – Rs1,500 per month is transferred to each eligible family.
However, under the new policy the transferred amount will be taken back or de-credited, if it is not taken out of the bank account within a specified time, ie, one year.
During her welcome note, the BISP chairperson shared recent initiatives undertaken by the organisation. “As the BISP is ready to update National Socio Economic Registry (NSER), we would make sure that the whole of the country is covered equally in the NSER update,” she said.
Memon said the technologically superior solutions would be employed to maximise the accuracy for NSER upgradation, adding that “we are moving towards dynamic registry for the first time in history.”
The board members were provided with detailed briefing by the management on the progress on the NSER update, to be carried out in two phases.
In the first phase, survey in 16 districts throughout the country – including Azad Jammu and Kashmir (AJK), Gilgit-Baltistan (G-B) and Federally Administrative Tribal Area (Fata) – will be initiated from June 2016. In second phase, there will be national rollout of the re-survey. It was further informed that principal approval for update had been granted by Finance Minister Ishaq Dar.
Since its inception, the BISP has grown rapidly and is the largest single social safety net programme in Pakistan’s history. The number of beneficiaries has increased from 1.7 million households in 2008-2009 to approximately 4.7 million in December 2014.
The BISP’s annual disbursements have risen from Rs16 billion in 2008-2009 to Rs65 billion in 2013-2014. This year, the disbursements to beneficiaries are expected to reach Rs90 billion, according to the BISP website.
Published in The Express Tribune, February 26th, 2016.