PHOTO: PID
ISLAMABAD: The federal government has increased the annual budget of the Benazir Income Support Programme (BISP) by around Rs4 billion, from Rs121 billion to Rs124.7 billion in the Federal Budget 2018-2019.
The 3% increase in the BISP funds was announced during the budget speech by Finance Minister Miftah Ismail. While announcing the federal budget for FY2018-19, the federal minister said that BISP is the largest safety net programme in Pakistan, and when the present government took charge in June 2013, the allocation for BISP was only Rs40 billion under which 3.7 million families were being facilitated while the stipend paid through the programme was also roughly Rs3,000 per quarter.
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“However, our government has not only increased the amount of stipend per family from Rs3,000 to Rs4,834 per quarter but the number of beneficiaries has also been increased to 5.6 million as of December 2017,” he added.
Poverty Alleviation Fund
Moreover, the finance minister also announced allocation of Rs688 million for the Pakistan Poverty Alleviation Fund (PPAF) for FY2018-19.
Ismail added that during the last five years, the Pakistan Muslim League-Nawaz led government has arranged more than Rs20 billion for the fund dedicated to eradicating poverty from the country through various schemes.
As part of its mechanism, PPAF is also implementing the Prime Minister’s Interest Free Loan Scheme in 45 districts of the country for which the federal government has already provided Rs3.965 billion. This amount has now been increased up to Rs7.4 billion as the government also declared an additional Rs3.5 billion for the interest free loan scheme for the forthcoming financial year.
Ministry of Information
Furthermore, the federal government has allocated an amount of Rs1,644 million to the Ministry of Information, Broadcasting and National Heritage in the budget 2018-19. Last year, the government had apportioned an amount of Rs812 million, which reflects an increase of Rs832 million in the budget for this fiscal year.
Meanwhile, the trillion rupees Public Sector Development Programme (PSDP) also comprises funds worth Rs1 billion for the information and broadcasting ministry for an addition of 13 new schemes, which includes a news channel called PTV Parliamentarian.
Earthquake authority
Finance Minister Miftah also announced an allocation of Rs8.5 billion to the Earthquake Reconstruction and Rehabilitation Authority (ERRA) in the recently presented federal budget. The organisation is responsible for restoring quake struck regions of the country and also for restructuring the lives of the victims.
The new sum marks an increase of about 13.3% over last year’s allocated funds of Rs7 billion according to estimates for the outgoing budget.
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Science and Technology
Subsequently, the Ministry of Science and Technology also comes through the budget session with an increased provision for its operations.
The finance minister has declared a 60% higher budget for the technology ministry for the year 2018-19 which estimates for its current funding to be around Rs3,900 million as compared to its previous budget of Rs2,428 million. It was also announced that a total of 11 new projects will also be initiated for the ministry under PSDP.
Ministry of Religious Affairs
The federal government has allocated an amount of Rs36 million for one ongoing project under PSDP.
Ministry of Human Rights
The Ministry of Human Rights has also been allocated an amount of Rs300 million, out of which an amount Rs198 million has been allotted for three new projects under the development programme.
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