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Beneficiaries to get additional amount under Indexation Policy approved by ECC

Beneficiaries to get additional amount under Indexation Policy approved by ECC

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved the Indexation Policy for Cash Transfer and allowed Benazir Income Support Program (BISP) to adopt the institutional mechanism for periodic update of regular cash transfer benefits to Ehsaas Kafalat Beneficiaries of BISP.

The request in this regard was made by the Poverty Alleviation & Social Safety Division, according to press statement issued by the Finance Ministry.

Federal Minister for Finance and Revenue, Shaukat Tarin chaired the meeting which among others was attended by Minister for Interior, Sheikh Rasheed Ahmad; Minister for Maritime Affairs, Syed Ali Haider Zaidi; Minister for National Food Security and Research, Syed Fakhar Imam; Federal Minister on Energy, Hammad Azhar; Federal Minister for Railways, Azam Khan Swati; Special Assistant to PM on Poverty Alleviation and Social Protection, Dr. Sania Nishtar; Adviser to PM on Institutional Reforms and Austerity, Dr. Ishrat Hussain; SA to PM on Finance and Revenue, Dr. Waqar Masood; Federal Secretaries and senior officers.

The beneficiaries would receive an additional cash of Rs 166 per month due to the indexation.

The statement added, the BISP mechanism would consist of a Committee, to be chaired by Secretary Finance Division. The other members of the Committee would be Additional Finance Secretary, Secretary Poverty Alleviation and Social Safety Division, Economic Advisor Finance Division, and one co-opted member for independent technical advice.

The terms of reference of the Committee would be to consider and recommend any update/adjustment of regular cash benefits of BISP i.e. Ehsaas Kafalat Programme for inflationary reasons within a period of three years from last enhancement to the Federal Cabinet for approval.

The Committee would also consider and approve any update/adjustment of cash transfers under BISP Programmes other than Ehsaas Kafalat Programme, the statement added.

The cabinet committee approved the enhancement of Ehsaas Kifalat monthly stipend to the tune of Rs 166 per beneficiary w.e.f. 1s January, 2022.

The cabinet committee also approved the additional funds requirement of Rs 75 million of Ministry of Housing and Works in respect of three development schemes. Technical Supplementary Grant amounting to Rs 43 million in favor of Ministry of Housing and Works was also approved.

ECC in its meeting allowed Information and Broadcasting Division for re-appropriation of PSDP funds of Rs 17.633 million through Technical Supplementary Grant. Interior Ministry’s request of Technical Supplementary Grant of Rs 30 million was also approved.

Similarly, Technical Supplementary Grant request of Ministry of Narcotics Control for Rs 5 million, Science & Technology for Rs 317 million and Establishment Division for Rs. 54 million was approved in the ECC meeting.

Arrears of contribution amounting to Rs 3369.62 million on account of Group Insurance Fund by the Finance Division on behalf of the Federal Government Non-Gazetted (BS 1 to BS ) employees was also approved in the meeting.