Pakistan’s Ministry of Poverty Alleviation and Social Protection has issued Zakat guidelines for 2024, setting the Zakat threshold at Rs 135,179. Accounts with balances at or above this figure on the first of Ramadan will incur Zakat deductions.
Balances below this threshold are exempt, benefiting those with lesser savings.
Zakat, a compulsory charity in Islam for those meeting certain wealth criteria, constitutes one of Islam’s Five Pillars. Eligible individuals must pay Zakat, usually 2.5% of their total balance, if their savings or PLS accounts surpass the threshold on Ramadan’s first day.
