Last Updated on: 29th March 2024, 10:17 pm
10500 Benazir Kafalat March Digital Payment Audited By World Bank: The Benazir Income Support Programme in Pakistan stands out as a hopeful initiative amidst the country’s socio-economic challenges. It utilizes digital technology to address poverty and support poor families. A recent World Bank assessment of the program, known as Audit 10500 BISP, reveals its successes and areas needing enhancement, emphasizing the positive impact of digitalization in social security efforts. The audit offers valuable insights into Pakistan’s digital Benazir Kafaalat programme, conducted in March.
10500 Benazir Kafalat March Digital Payment Audited By World Bank:
The World Bank report highlights Pakistan’s social safety system development, focusing on the years 2011 to 2019, during which the Benazir Income Support Program (BISP) played a crucial role in reducing poverty rates. Before the 2008 financial crisis, BISP used a limited and subjective targeting approach, but it later broadened its scope, leading to a significant decrease in poverty levels. The injection of $1 billion into the economy through BISP underscores its importance in bolstering social protection and promoting development in marginalized areas.
BISP Success Stories:
The BISP (Benazir Income Support Program) has achieved considerable success in Pakistan, evident in various areas such as increasing consumption spending, empowering women, and improving food security. Its financial independence, administrative flexibility, and transparent accountability have enabled significant investments in infrastructure and initiatives, leading to a notable expansion in budget allocation and coverage, benefiting 9.2 million households. However, challenges persist, including the declining value of benefits over time, communication barriers, and issues with the National Socio-Economic Registry (NSER). Addressing these challenges is crucial to maintain the program’s effectiveness, particularly in ensuring adequacy amid rising costs and enhancing inclusivity for marginalized groups.
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NSER Dynamic Survey Uses Digital Technology:
The integration of data and biometric technology by BISP represents a significant change in its delivery methods, improving responsiveness and accessibility. Combining the National Socio-Economic Registry (NSER) with the biometric verification system (BVS) has made verification and payments more efficient, allowing for immediate assistance during emergencies like the COVID-19 pandemic and natural calamities.
World Bank’s Tries to Improve for BISP Program:
The World Bank report offers recommendations to improve BISP’s effectiveness. Key suggestions include raising benefit levels to 15% of average household consumption, utilizing business intelligence software by NSER and NADRA to leverage digital identity data, implementing a solid strategy for transitioning to new payment methods, and emphasizing continuous monitoring and impact assessments for evaluating program success and guiding future actions.
BISP contribution in poverty alleviation:
The World Bank Audit reveals that the 10500 Benazir Income Support Programme (BISP) has notably decreased poverty rates in Pakistan, leading to improvements in consumption spending, food security, and women’s empowerment. Its strategic interventions have injected $1 billion into the economy, underscoring its pivotal role in addressing socio-economic disparities.
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Final Thoughts:
The World Bank audit highlights BISP’s significant progress in reducing poverty and empowering society in Pakistan. Despite ongoing challenges, the implementation of technology and strategic reforms offers a blueprint for a more inclusive and efficient social security system, promising a better and fairer future.