Baitul Mal, BISP funding capped up

Govt allocates Rs6 billion for PBM, Rs121 billion for BISP

ISLAMABAD: For Pakistan Baitul Mal (PBM), the federal government has increased its annual budget from Rs4 billion to Rs6 billion.

While announcing the federal budget for FY2017-18 in the National Assembly, Finance Minister Ishaq Dar said there would be 50 per cent increase in the budget of the PBM and it would be used for financial assistance of deserving persons and orphan children living in Pakistan Sweet Homes.

Meanwhile, talking to The Express Tribune, an official of the PBM said: “Every year, the PBM faces acute shortage of funds to provide financial assistance for treatment of needy people.”



“Day by day, the number of needy people seeking medical treatment is increasing, therefore, the PBM requires more funds to cater to the needs of the needy people,” said the official.

Benazir Income Support Programme

The government has allocated an amount of Rs121 billion for BISP for FY2017-18. This also includes an amount of Rs1.25 billion to start a new graduation programme for 250,000 beneficiaries.



Last year, the government had allocated an amount of Rs115 billion for BISP which provides an extremely important social safety to the poorest segments of society.

There has been an increase of Rs6 billion this year over the amount allocated last year. The budget allocation for BISP has been increased in five years from Rs75 billion to Rs121 billion in FY2017-18.