The Federal Ministry of Poverty Alleviation and Social Protection has announced the Zakat threshold for 2025. If you have a bank account with a balance of PKR 179,689 or more on the first day of Ramadan, get ready for Zakat deductions. This year Zakat Nisab is Rs. 44,519 higher than the previous year’s.

Here are the key details:

Eligible Accounts: Savings accounts, profit and loss sharing accounts, and other interest-bearing accounts are all fair game for Zakat deductions.

Exempted Accounts: Current accounts are off the hook - no Zakat deductions will be made from these accounts.

Deduction Date: Mark your calendars for March 1 or 2, 2025 - that's when Zakat deductions will take place, coinciding with the first day of Ramadan.

Exemption Criteria: If your account balance is less than PKR 179,689 on the first day of Ramadan, you're exempt from Zakat deductions.

The Ministry has instructed banks to deduct Zakat from eligible accounts. If you want to avoid automatic deductions, make sure you submit the necessary exemption documents to your bank on time.