Pakistan and IMF held discussions for the fourth day on Thursday regarding the new loan program amid the assessment mission.

IMF has called for the expansion of programs focused on poverty alleviation and social protection.

According to sources, IMF emphasized the need to increase coverage, ensure transparency, and enhance administrative capacity in the Benazir Income Support Program (BISP).

The Fund also suggested allocating additional funds to cash transfer programs wherever possible.

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The authorities briefed the IMF mission that a budget of Rs472 billion will be allocated to BISP in the current year, and provinces will also be engaged to share the burden of social protection.

During the briefing, it was revealed that eligible recipients under BISP will be provided electricity subsidies through the cash transfer program in the future. The goal is to fully register 20 million households by September 2024.

The authorities further stated that the number of beneficiaries availing BISP has reached 9.3 million, and an additional 300,000 families have been included in the Kafalat program last year, while 900,000 families have been registered under the Health Cash Transfer Program.

The Education Cash Transfer Program has enrolled 1.9 million children. Additional funds will be allocated for social protection programs in the upcoming fiscal year.