ISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet on Monday has approved the Indexation Policy for Cash Transfer that would allow the beneficiaries to receive an additional cash of Rs 166 per month due to indexation.
The ECC has approved the request of the Poverty Alleviation & Social Safety Division regarding Indexation Policy for Cash Transfer and allowed BISP to adopt the institutional mechanism for periodic update of regular cash transfer benefits to Ehsaas Kafalat Beneficiaries of Benazir Income Support Programme. The beneficiaries would receive an additional cash of Rs 166 per month due to indexation. The mechanism shall consist of a Committee which will 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 ECC approved the enhancement of Ehsaas Kifalat monthly stipend to the tune of Rs 166 per beneficiary w.e.f. 1st January, 2022.
It is worth mentioning here that the government had allocated Rs260 billion for the Ehsaas Programme in the budget 2021-22 for poverty alleviation and to provide relief to the low-income people. The government has decided to increase the stipend for the Ehsaas Programme from Rs12, 000 to 13,000.
Federal Minister for Finance and Revenue, Shaukat Fayyaz Ahmed Tarin, chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Cabinet Division.
The ECC has 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 favour of Ministry of Housing and Works was also approved.
The ECC in its meeting has 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 BS15 ) employees was also approved in the meeting.
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 Muhammad 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 officials attended the meeting.
