Finance Minister, Senator Mohammad Ishaq Dar said here today that he had detailed discussion with the Prime Minister regarding increase in the stipend for BISP beneficiaries. The Prime Minister has been pleased to approve increase in the annual stipend to BISP beneficiaries from Rs. 18,800/- to 19,338/- per annum.The increase is in accordance with the increase in CPI during the last year; the Minister said and added the decision would contribute to mitigating the effect of inflation on the BISP beneficiaries.The stipend at the enhanced rate of Rs. 4834/- per beneficiary per quarter would be payable with effect from July 1, 2016. The arrears would be paid along with the next installment, the Finance Minister added. The Finance Division has already issued instructions to BISP to ensure disbursement of quarterly stipend at the enhanced rate.The present government, he said, is fully committed to protecting the most vulnerable segments of the society and for this purpose the annual allocation for BISP has been enhanced by the present government from Rs.40 billion to Rs.115 billion while the annual stipends have been enhanced from Rs. 12000/- to Rs.18,800/- during the last three years. These have now been further increased to Rs.19338/- per beneficiary per annum.

Source: Ministry of Information, Broadcasting and National Heritage