The federal government has fixed the Nisab of Zakat at Rs. 80,933 in Pakistan before the start of the holy month of Ramadan 2021.
According to a notification issued by the Administrator-General Zakat, the people maintaining an amount of Rs. 80,933 minimum balance in their savings, profit and loss sharing, or similar bank accounts will be subject to deduction of Zakat at 2.5 percent on the total balance on the 1st of Ramadan 2021.
Nisab is the fixed amount of money that a person is required to pay after the deduction of necessary expenses from their account. It is pertinent to mention that it applies only to savings, profit and loss sharing and similar bank accounts.
The Ruet-e-Hilal Committee will meet on Tuesday (13 April 2021) at Peshawar for Ramadan 2021 moon sighting under chairmanship of Maulana Abdul Khabir Azad.
Furthermore, the special assistant to prime minister Tahir Ashrafi has promised that the start of Ramazan 2021 will be observed together throughout Pakistan along with Eid ul Fitr.
It is pertinent to mention that this year, the meeting of the Ruet-e-Hilal Committee will take place without Mufti Muneeb ur Rehman who was removed from his post after 23-years.