IMF approves boost to Benazir income support program

ISLAMABAD: The International Monetary Fund (IMF) has expressed satisfaction over the increase in the budget of the Benazir Income Support Program.

According to the details, the IMF expressed satisfaction over the increase in the budget of the Benazir Income Support Program and also recommended a further increase in the assistance to the Benazir Kafalat Program.

According to the IMF, the amount of the Benazir Kafalat Program is low compared to international standards, the budget of the Benazir Income Support Program has been strengthened for social protection.

The IMF says that appropriate increases are being made in incentives to maintain the purchasing power of consumers. The Benazir Income budget includes a 20 percent increase in expenditure on assistance programs, as a result of which cash assistance will be increased under the Kafalat Program.

The amount of unconditional cash assistance will be increased from Rs 13,500 to Rs 14,500, the IMF says that this is expected to increase the coverage of the Kafalat Program by at least 200,000 families.

By the end of the fiscal year 2026, the number of beneficiary families will reach 10.2 million. After the new household survey in 2026, the support program should be increased. The fund’s support assistance is proposed to be increased to 15 percent of the consumption of the lower-income group.

It has been recommended to continue adjusting the amount of the fund’s support program according to inflation. It has also been recommended to expand the coverage of the IMF’s Conditional Cash Transfer Program. The full utilization of the conditional cash transfer budget of Benazir Income is very important.