Zakat collections decline in the country amid economic slowdown
There has been a significant decline in Zakat collection through banks this year, which is likely to cause hardship to Zakat beneficiaries as well.
The decline comes in the backdrop of the economic downturn in the country, which has been initiated due to the coronavirus pandemic lead global economic slowdown. The significant decline in the collection of Zakat through banks this year, is likely to cause difficulties to millions of Zakat recipients.
However, overall, the share of provinces has declined due to the reduction in Zakat collection across the country.
As per details, the federal government has transferred Zakat fund to Sindh at the rate of 23.71 percent. This year, Sindh received Rs 1.74 billion in zakat, while last year, Sindh received more than Rs 2 billion in zakat funds from the federation a drop of some Rs 300 million.
The annual budget of the Zakat Department of Sindh is Rs. 2.5 billion for the assistance of the beneficiaries. In Sindh, about Rs. 1.5 billion is distributed to one lakh registered beneficiaries in the form of living allowance.