Latest news with #BenazirIncomeSupportProgramme
Business Recorder
15 hours ago
- Business
- Business Recorder
Pakistan budget for 2025-26 to consolidate economic gains, NA told
ISLAMABAD: Amid criticism from opposition lawmakers, Minister of State for Finance Bilal Azhar Kayani on Friday said that the budget is aimed at further consolidating economic gains, providing relief to the people, and continuing the reform process. He said the reforms would also extend to tax fraud investigations, with new safeguards to prevent arbitrary arrests. Under the new policy, arrests during investigations would only occur in cases of sales tax fraud exceeding Rs50 million, and only after approval from a three-member Federal Board of Revenue (FBR) panel. The opposition lawmakers; however, sharply criticised the budget, saying it lacked vision and heavily favoured the handful elite. They decried the increase in allocations to the Benazir Income Support Programme (BISP), which rose from Rs592 billion to Rs716 billion, arguing it came at the expense of education, whose allocation remains comparatively low. PTI says 'federal budget favours elite, ignores masses' The opposition also slammed what they termed a symbolic 10 percent salary raise for government employees and a seven percent hike in pensions for retired government employees. They noted the budget failed to increase the minimum wage, allegedly due to pressure from industrialists. The Finance Ministry did announce some tax relief for salaried individuals, a promise previously made by Prime Minister Shehbaz Sharif. But opposition members ridiculed the tax relief for those earning above Rs1.2 million annually, calling it a 'cruel joke.' At the outset of the session, Federal Minister for Finance Muhammad Aurangzeb laid four Statutory Regulatory Orders (SROs) before the House, issued under the Customs Act and Income Tax Ordinance. He confirmed to the speaker that he would conclude the budget debate on Monday. Several lawmakers belonging to both opposition and treasury participated in the ongoing debate on the Finance Bill for 2025-26, voicing a wide range of concerns and suggestions. Pakistan People's Party (PPP) MNA Nafeesa Shah called for greater support to the agriculture sector. Saba Talpur echoed this sentiment, urging the government to cut prices of seeds, fertilisers, and pesticides to support farmers. Junaid Akbar Khan of PTI said the budget had nothing for the people and called attention to sacrifices made by Khyber Pakhtunkhwa in the war on terror. Agha Rafiullah of PPP demanded that the government review proposed family pension reforms and remove limitations affecting spouses and disabled children. Sahibzada Hamid Raza of SIC criticised the apparent neglect of health and education sectors in the budget. Minister for Religious Affairs Muhammad Yousaf described the budget as balanced and praised the government's handling of Hajj arrangements, noting that over 115,000 Pakistani pilgrims participated this year. Saudi Arabia awarded Pakistan for its management, and planning for next year's pilgrimage has already begun, he added. Qaiser Ahmed Sheikh, Minister for the Board of Investment, said macroeconomic indicators were improving, with inflation falling and remittances rising. He urged all political parties to agree on a Charter of Economy to attract investors. Minister for Public Affairs Rana Mubashir Iqbal said Rs250 billion had been allocated for Balochistan, including Rs100 billion for road infrastructure and further allocations for dams, agriculture, energy, education, and health. Minister of State for Religious Affairs and Interfaith Harmony Kesoo Mal Kheal Das stressed that no new taxes had been imposed on agriculture and reaffirmed the government's commitment to completing the Sukkur-Karachi motorway. Murtaza Mahmud lauded the government's steps toward economic stability, while Pullain Baloch called for tax relief for the public. Law Minister Azam Nazeer Tarar reiterated Pakistan's stance against Israeli aggression – whether in Gaza, Lebanon, Iran, or elsewhere – stating that the country will continue to oppose and condemn such actions. Other lawmakers who took part in the debate included Fayyaz Hussain, Azimuddin Zahid, Shaharyar Khan Mahar, Osama Sarwar, Noor Alam, Farah Naz and Zulfiqar Ali, Zahra Wadood. Copyright Business Recorder, 2025
Business Recorder
17 hours ago
- Business
- Business Recorder
Budget to consolidate economic gains, NA told
ISLAMABAD: Amid criticism from opposition lawmakers, Minister of State for Finance Bilal Azhar Kayani on Friday said that the budget is aimed at further consolidating economic gains, providing relief to the people, and continuing the reform process. He said the reforms would also extend to tax fraud investigations, with new safeguards to prevent arbitrary arrests. Under the new policy, arrests during investigations would only occur in cases of sales tax fraud exceeding Rs50 million, and only after approval from a three-member Federal Board of Revenue (FBR) panel. The opposition lawmakers; however, sharply criticised the budget, saying it lacked vision and heavily favoured the handful elite. They decried the increase in allocations to the Benazir Income Support Programme (BISP), which rose from Rs592 billion to Rs716 billion, arguing it came at the expense of education, whose allocation remains comparatively low. PTI says 'federal budget favours elite, ignores masses' The opposition also slammed what they termed a symbolic 10 percent salary raise for government employees and a seven percent hike in pensions for retired government employees. They noted the budget failed to increase the minimum wage, allegedly due to pressure from industrialists. The Finance Ministry did announce some tax relief for salaried individuals, a promise previously made by Prime Minister Shehbaz Sharif. But opposition members ridiculed the tax relief for those earning above Rs1.2 million annually, calling it a 'cruel joke.' At the outset of the session, Federal Minister for Finance Muhammad Aurangzeb laid four Statutory Regulatory Orders (SROs) before the House, issued under the Customs Act and Income Tax Ordinance. He confirmed to the speaker that he would conclude the budget debate on Monday. Several lawmakers belonging to both opposition and treasury participated in the ongoing debate on the Finance Bill for 2025-26, voicing a wide range of concerns and suggestions. Pakistan People's Party (PPP) MNA Nafeesa Shah called for greater support to the agriculture sector. Saba Talpur echoed this sentiment, urging the government to cut prices of seeds, fertilisers, and pesticides to support farmers. Junaid Akbar Khan of PTI said the budget had nothing for the people and called attention to sacrifices made by Khyber Pakhtunkhwa in the war on terror. Agha Rafiullah of PPP demanded that the government review proposed family pension reforms and remove limitations affecting spouses and disabled children. Sahibzada Hamid Raza of SIC criticised the apparent neglect of health and education sectors in the budget. Minister for Religious Affairs Muhammad Yousaf described the budget as balanced and praised the government's handling of Hajj arrangements, noting that over 115,000 Pakistani pilgrims participated this year. Saudi Arabia awarded Pakistan for its management, and planning for next year's pilgrimage has already begun, he added. Qaiser Ahmed Sheikh, Minister for the Board of Investment, said macroeconomic indicators were improving, with inflation falling and remittances rising. He urged all political parties to agree on a Charter of Economy to attract investors. Minister for Public Affairs Rana Mubashir Iqbal said Rs250 billion had been allocated for Balochistan, including Rs100 billion for road infrastructure and further allocations for dams, agriculture, energy, education, and health. Minister of State for Religious Affairs and Interfaith Harmony Kesoo Mal Kheal Das stressed that no new taxes had been imposed on agriculture and reaffirmed the government's commitment to completing the Sukkur-Karachi motorway. Murtaza Mahmud lauded the government's steps toward economic stability, while Pullain Baloch called for tax relief for the public. Law Minister Azam Nazeer Tarar reiterated Pakistan's stance against Israeli aggression – whether in Gaza, Lebanon, Iran, or elsewhere – stating that the country will continue to oppose and condemn such actions. Other lawmakers who took part in the debate included Fayyaz Hussain, Azimuddin Zahid, Shaharyar Khan Mahar, Osama Sarwar, Noor Alam, Farah Naz and Zulfiqar Ali, Zahra Wadood. Copyright Business Recorder, 2025
Business Recorder
17 hours ago
- Business
- Business Recorder
Unbanked and unseen
EDITORIAL: It should be unthinkable that in 2025, just 14 percent of women in Pakistan are financially included. Yet here we are — well into the third decade of the 21st century — still contending with the reality that half the population remains largely excluded from the financial system. The data, drawn from the latest Karandaaz Financial Inclusion Survey, paints a grim picture. Financial inclusion among men has risen to 56 percent, but women lag far behind, stuck at 14 percent. No other indicator captures the scale of economic exclusion quite as clearly. This is not a marginal development problem. It is a foundational crisis. Countries that aim to grow sustainably, distribute wealth more evenly, and improve human development outcomes cannot afford to operate financial systems that serve only one gender. Yet Pakistan's formal economy continues to overlook and underestimate women. The fact that mobile wallet use has expanded to 48 percent of men but only 11 percent of women confirms the depth of the divide. Even where digital solutions have made formal banking more accessible, women are still being left behind. This isn't about technology access alone. It is about structural neglect. From mobile ownership to SIM registration, from literacy to household permission, every link in the chain is broken for women. And the state does not appear in any hurry to fix it. It is stunning that even now, there is no serious national strategy to address the gender gap in financial access. Not even in the country's digital finance policy documents is there a plan robust enough to deal with the fact that millions of women remain unbanked, under-resourced, and financially invisible. The regional disparities are equally shocking. In Balochistan, just 4 percent of women are financially included. In Azad Jammu & Kashmir, only 1 percent. These are not statistics that reflect slow progress — they reflect active failure. Even in Islamabad, where infrastructure and access are significantly better, female inclusion stands at just 38 percent, far below any reasonable benchmark. There is no justification for this scale of exclusion, especially when mobile wallets and simplified banking services are available. Technology is often cited as one of the great equalisers, but only when access is universal. And in Pakistan, it simply isn't. Just 46 percent of women own mobile phones, compared to over 80 percent of men. Even fewer women have SIMs registered in their own names. Without secure access to personal digital tools, mobile-based financial solutions can't reach their intended users. These are known barriers, and yet policy action has been slow, fragmented, and reactive at best. There are ways forward, but they require seriousness. Government programmes like the Benazir Income Support Programme could be expanded to serve as on-ramps for broader financial inclusion. Mobile operators can be incentivised to register SIMs in women's names more easily and securely. Banks can design simplified, low-cost accounts tailored for first-time female users. Civil society can support literacy and awareness campaigns, especially in rural districts. None of these ideas are new. What is missing is the political will to act on them at scale. This is not a women's issue — it is a national development issue. Countries that empower their women economically see gains in household savings, education, health outcomes, and GDP growth. Countries that exclude them face stagnation and widening inequality. Pakistan cannot afford to choose the latter path. Financial inclusion is not charity. It is not a development project to tick off in reports. It is the foundation of economic participation and empowerment. And right now, too many Pakistani women are locked out of that foundation. If this continues, the cost won't just be borne by them — it will be borne by the entire country. Copyright Business Recorder, 2025
Express Tribune
2 days ago
- Business
- Express Tribune
Govt comes under attack in NA for ignoring agri sector
PML-N-led coalition government in the Centre now has 229 members in the NA. PHOTO: APP Lawmakers from the treasury and opposition benches on Thursday welcomed improved economic indicators and emphasized the need for bipartisan efforts to sustain economic progress and promote inclusive growth. Resuming the budget debate, Raja Qamar-ul-Islam of the Pakistan Muslim League-Nawaz (PML-N) praised the budget as historic and lauded the role of Pakistan's armed forces in sending a firm message to India. He expressed confidence that the budget 2025-26 would pave the way for sustainable economic growth in the country. Amir Dogar of the Sunni Ittehad Council (SIC) criticized the government for overlooking the agriculture sector and called for raising the minimum wage to Rs 50,000. Atif Khan of SIC criticized the budget and stressed relief measures for the poor segment of society. Pakistan Peoples Party Parliamentarians (PPPP) legislator Shagufta Jumani appreciated the government for allocating significant funds to the Benazir Income Support Programme (BISP). She also urged the government to allocate dedicated funds for polio eradication, emphasizing the importance of sustained public health efforts. Rana Hayat proposed the creation of a special House committee to focus on the problems faced by farmers, a vital segment of the economy. MNA Usama Ahmed Mela, emphasizing the critical role of agriculture in national development, called on the government to provide incentives for farmers, including subsidies for fertilizer, pesticide and broader agricultural reforms. He also suggested a review of the Federal Board of Revenue's (FBR) authority, indicating concerns about its administrative reach.
Express Tribune
6 days ago
- Business
- Express Tribune
BISP to launch retail payment model amid heatwave
Listen to article Benazir Income Support Programme (BISP) is set to roll out a retail-based payment model starting Monday, replacing its traditional campsite disbursement system to safeguard beneficiaries from the ongoing severe heatwave, state television PTV reported. The new system aims to provide safer, more dignified, and accessible cash transfers, particularly for vulnerable groups in high-temperature regions. As part of field preparations, BISP Additional Secretary Dr Tahir Noor visited District Khanewal to review the readiness of retail outlets and coordinate with district teams and partner banks. ایڈیشنل سیکرٹری بی آئی ایس پی ڈاکٹر طاہر نور نے آج بینظیر انکم سپورٹ پروگرام کی چوتھی سہ ماہی قسط کی ریٹیل پیمنٹ ماڈل کے تحت تقسیم کے لیے جاری تیاریوں کے سلسلے میں ضلع خانیوال کا دورہ کیا۔اس دورے کا مقصد فیلڈ سطح پر تیاریوں کا جائزہ لینا، ضلعی ٹیموں اور شراکت دار بینکوں کے… — Benazir Income Support Programme (@bisp_pakistan) June 15, 2025 'The retail model is being introduced to provide beneficiaries with an improved experience through convenient access points, biometric verification, and a more transparent process that includes printed receipts,' said Dr Noor. He reiterated the government's commitment to ensuring cash disbursements are handled with respect, efficiency, and transparency. He also directed partner banks to guarantee that all retail outlets are fully operational, with trained staff, biometric verification systems, consistent internet connectivity, and clear signage to assist recipients. Dr Noor instructed BISP field staff to intensify communication efforts so beneficiaries are well-informed about the new payment process ahead of the rollout. ایڈیشنل سیکرٹری بی آئی ایس پی، ڈاکٹر طاہر نور کی زیر صدارت بہاولپور میں بی آئی ایس پی کے ضلعی دفتر میں ایک اعلیٰ سطحی اجلاس منعقد ہوا۔ اجلاس کا مقصد بینظیر کفالت کی چوتھی سہ ماہی قسط کی تقسیم کے لیے ریٹیل ایجنٹس کے ذریعے کیے جانے والے حتمی انتظامات کا جائزہ لینا تھا۔ اس موقع پر… — Benazir Income Support Programme (@bisp_pakistan) June 14, 2025 Earlier this week, he visited Multan and Bahawalpur as part of a wider oversight tour of South Punjab. There, he held meetings with BISP officials and financial partners to strengthen coordination ahead of the system's launch. 'All stakeholders, including BISP staff, banks, and local authorities, must focus on delivering full payments with dignity and ease,' he said. Under the new model, beneficiaries are advised to visit only their designated retail outlets with their original CNICs to collect the full amount of the Quarter 4 tranche, along with printed receipts. Any issues or complaints can be reported at local BISP Tehsil offices or through the programme's helpline at 0800-26477. The move marks a major step in BISP's shift toward citizen-focused and transparent social service delivery, aimed at improving access and dignity for Pakistan's most vulnerable communities.
