IMF expresses satisfaction with BISP's performance

Briefing highlights progress including BISP's aid distribution to eligible beneficiaries and financial challenges

ISLAMABAD:

The International Monetary Fund (IMF) has expressed satisfaction with the performance of Pakistan's Benazir Income Support Program (BISP), a cash transfer initiative aimed at aiding the country's poor and vulnerable citizens.

On the third day of ongoing discussions and meetings between the IMF review mission and Pakistani officials, the IMF delegation received a detailed briefing on BISP's operations.

The briefing highlighted the progress made during the first four months of the current fiscal year, including the distribution of aid to eligible beneficiaries and the financial challenges faced by the program.

According to sources, the IMF team was informed about the timely delivery of assistance to those in need, and the briefing covered the steps taken to address any ongoing financial difficulties related to the program.

IMF officials conveyed their satisfaction with the successful implementation of BISP and its contribution to providing crucial financial support to Pakistan's low-income population.

The IMF review mission, which has been in Pakistan to assess the country's economic performance under the ongoing program, has shown confidence in the positive outcomes of the cash transfer initiative.

Prior to that, BISP chairperson Senator Rubina Khalid on November 7 announced the launch of the Benazir Skill Training Programme for deserving women and their families while addressing the negative perception that the BISP is turning poor citizens into beggars.

Previously, heads of the World Bank and IMF on November 12 said they would work with the incoming US administration of Republican Donald Trump to continue to provide financing to developing countries hit by climate change.

The election of Trump, who is expected to pull the United States back from global efforts to fight climate change, has raised questions about the ability of the IMF and the World Bank - where the US is the largest shareholder - to ramp up funding for countries around climate-related issues.

This year's summit is meant to focus on raising hundreds of billions of dollars to fund a global transition to cleaner energy sources and limit the climate damage caused by carbon emissions by the world's largest countries, including the US.