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Its risk-free nature is underpinned by the sovereign guarantee of the Government of Pakistan. Initiated in 2003, [12] the Behbood Saving Certificates scheme was developed in response to the financial needs of Pakistan’s senior citizens, widows, and disabled individuals. Key features of the Behbood Saving Certificates include:
Pensions in Pakistan are provisions which are provided to retired employees. [1] Because only the retired formal sector mostly benefits from pensions, most of the social schemes and retirement welfare system in the country cover a small proportion of the old-age population, whereas a significant proportion of the elderly population working in the informal sector remains largely unprotected by ...
On July 3, 2009, Taliban militants Saturday claimed responsibility for a military helicopter crash that killed 41 people in the rugged tribal area in the country's north. . However, a military spokesman rejected the claim, reiterating that the helicopter had crashed due to a 'technical fault.' 41 security personnel, including 19 personnel of the paramilitary Frontier Crops, 18 regulars from ...
The Enhanced Partnership with Pakistan Act of 2009 s.1707 (also known as the Kerry-Lugar-Berman Act) was an act of the United States Congress passed into law on October 15, 2009. It authorizes the release of $1.5 billion per year to the government of Pakistan as non-military aid from 2010 to 2014.
For the 2009–2010 fiscal year, the program was expanded to cover 5 million low-income families. [11] At the program's start in 2008, the Pakistani government allocated RS 34 billion, or $425 million, for BISP; the allocation doubled to RS 70 billion, or $875 million in the following year.
A new bill called the Senior Citizens Inflation Relief Act proposes increasing the amount of money seniors can earn while also receiving Social Security benefits.
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The 1973 constitution was the first in Pakistan to be framed by elected representatives. Unlike the 1962 constitution it gave Pakistan a parliamentary democracy with executive power concentrated in the office of the prime minister, and the formal head of state—the president—limited to acting on the advice of the prime minister. [14]