More than Rs 7,570 million Zakat fund disbursed in FY 2016-17

BusinessMore than Rs 7,570 million Zakat fund disbursed in FY 2016-17

ISLAMABAD, Pakistan: A total amount of Rs 7,570.910 million Zakat fund has been distributed in bulk amongst the provinces and other administrative areas during fiscal year FY 2016-17.

Among the total amount Rs 4,038.687 million was given to Punjab while Rs 1,669.408 million to Sindh, Rs 973.059 to Khyber Pakhtunkhwa and Rs 359.792 million to Balochistan, Economic Survey 2016-17 reported.

Besides that Rs 186.230 million have been provided to Islamabad Capital Territory (ICT), Rs 98.414 million to Gilgit-Baltistan and Rs 245.320 million to Federally Administered Tribal Areas (FATA).

Under the 18th Constitutional Amendment, the subject of Zakat has been devolved to the provinces/federal Areas.

Zakat plays an important role in poverty alleviation. These funds are utilized for assistance to the needy, indigent, poor, orphans, widows, handicapped and disabled.

Such poor segments of society are provided Zakat funds either directly through respective local Zakat Committee or indirectly through institutions i.e. educational, vocational, social institutions and hospitals.

Mati
Mati
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