A recent study by the World Bank has recommended that the Pakistani government expand its new Hybrid Social Protection Scheme (HSPS). Currently, this scheme only benefits people who are already part of the Benazir Income Support Programme (BISP). However, the study suggests that the program should also include other households who are not poor enough to receive benefits from social safety nets but are also not wealthy enough to participate in social insurance programs.
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| Key Details | Information |
| Scheme Name | Hybrid Social Protection Scheme (HSPS) |
| Current Beneficiaries | BISP recipients |
| Suggested Expansion | Include other vulnerable households |
| Goal | Build resilience and promote savings |
Importance of Expanding the Scheme
The HSPS is designed to help informal sector workers, who often don’t have access to formal financial systems. The program encourages these workers to save money and build financial resilience against unexpected challenges, such as health emergencies or job loss. The World Bank study highlights the need to make this scheme more inclusive by extending it to other vulnerable households. These households may not qualify for BISP but still face financial difficulties that make them vulnerable.
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Benefits for Vulnerable Households
The study suggests that expanding the HSPS to include more households would provide critical support to those who are struggling but do not receive help through existing social safety nets. These households might not be classified as poor, but they are not financially stable either. Including them in the scheme would help them build savings and better prepare for financial shocks. This expansion would make the social safety nets more inclusive and provide a broader range of support to those who need it most.
BISP’s Role in the HSPS
The Benazir Income Support Programme (BISP) is currently overseeing the implementation of the HSPS pilot program. BISP is also working closely with the World Bank to evaluate the program’s effectiveness. The insights gained from this evaluation will help the government decide whether to expand the program on a larger scale across the country. The goal is to create a more robust social protection system that can reach a wider audience and provide meaningful support.
Evaluation and Potential Expansion
Based on the findings from the pilot program, the government will assess whether to scale up the HSPS nationwide. The aim is to make social safety nets more comprehensive and supportive, especially for households that fall between the cracks of current programs. By expanding the HSPS, the government hopes to create a more resilient population that can better handle economic challenges.
Government’s Vision
The Pakistani government is committed to improving the lives of its citizens, particularly those who are most vulnerable. By considering the expansion of the HSPS, the government is taking steps towards ensuring that more people have access to financial support. This is part of a broader strategy to strengthen the country’s social safety nets and help people build a more secure future.
Conclusion
Expanding the Hybrid Social Protection Scheme to include more vulnerable households could provide critical support to many who currently fall outside of existing social safety nets. By promoting savings and financial resilience, the scheme can help more people prepare for and overcome financial challenges. The government’s commitment to evaluating and potentially expanding the program reflects its dedication to improving social protection in Pakistan.
FAQs
What is the Hybrid Social Protection Scheme (HSPS)?
The HSPS is a program designed to help informal sector workers save money and build financial resilience.
Who currently benefits from the HSPS?
The program currently benefits recipients of the Benazir Income Support Programme (BISP).
Why is there a recommendation to expand the HSPS?
The World Bank suggests expanding the HSPS to include other vulnerable households that are not poor enough for BISP but still face financial challenges.
What is the goal of the HSPS?
The goal of the HSPS is to help people save money and build resilience against financial shocks.