Finance Minister Senator Mohammad Ishaq Dar, in a statement here Saturday, said that he had detailed discussion with the Prime Minister regarding increase in the stipend for BISP beneficiaries.
The increase was in accordance with the increase in CPI during the last year, the minister said and added that the decision would help mitigate the effect of inflation on the BISP beneficiaries.
He said the stipend at the enhanced rate of Rs 4700 per beneficiary per quarter would be payable with effect from July 1, 2015.
The arrears, he added, would be paid along with the next installment and the Finance Division had already issued instructions to the BISP to ensure disbursement of quarterly stipend at the enhanced rate.
The present government, he said, was fully committed to protecting the most vulnerable segments of the society and it had enhance the annual allocation for BISP from Rs 40 billion to Rs 105 billion.
The annual stipend had been enhanced from Rs 12,000 to Rs 18,000 during the last two years, which were now further increased to Rs 18,800, the minister said.