Abstract
Purpose of the study: This study is conducted to assess the success of the Female Stipend Program (FSP), started in the province Punjab, Pakistan under the Punjab Education Sector Reform Program in 2003.
 Methodology: Panel data on household-level collected from years 2016 to 2018 is used for the analysis. The impact of cash transfers (directed towards female students in selected districts of the province) on female school enrollment in public (elementary and high) schools is measured. Enrollment growth in public schools is used as a dependent variable whereas female stipend, the number of schools, student to teacher ratio, the population of the districts, and basic facilities available in public schools are taken as independent variables. The results are obtained by employing Linear Mixed Multilevel Modeling.
 Main findings: All the variables, except the population of districts, are having a highly significant impact on the enrollment rate in Punjab. Female school's stipend, number of schools in the district, and the accessibility to basic infrastructural facilities have an important impact on female enrollment rate while a high student to teacher ratio negatively contributes to female enrollment rate. Furthermore, districts, where a stipend program is implemented, have higher enrollments as compared to other districts in the province.
 Application of the study: Outcomes of the study indicate that cash transfer programs directed towards female school enrollment are very fruitful in the case of Punjab. Therefore, such programs should be started in other provinces of the country as well.
 Novelty/ Originality of the study: The present study contributes to the research gap by using the largest data set available for all 36 districts of the province. To further highlight major factors contributing to high female school enrollments, the study includes school infrastructure, the population of districts, student-teacher ratio, and availability of schools in the model.
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