Government fixes Nisab for Zakat at Rs80,933

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ISLAMABAD: The government has fixed Nisab for Zakat deduction on bank accounts for the current lunar year at Rs80,933.

According to a notification issued by the Administrator General Zakat for the lunar year 1441-42 Hijri, people having a minimum of Rs80,933 balance in savings, profit and loss sharing or similar bank accounts on the first day of Ramazan will be liable to pay 2.5 per cent Zakat on the total balance.

The first day of fasting for the holy month of Ramazan is likely to be Wednesday, April 14. Earlier, Minister for Science and Technology Fawad Chaudhry predicted that the Ramazan moon will be sighted on April 13.

The moon of Ramazan, 1442 AH will be sighted on the evening of April 13, 2021 and the first Ramazan will be on April 14, he said. The moon will be clearly sighted in Islamabad, Lahore, Karachi, Peshawar and other parts of the country, the minister said.