Federal Cabinet Approves Amendments to Hajj Policy 2024, Introduces Tax on Bank Windfall Profits

Islamabad, The Federal Cabinet, chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar, has approved significant amendments to the Hajj Policy 2024. The changes include allowing children below ten years of age to perform Hajj and introducing a monitoring system to regulate the financial matters of Hajj Group organizers.

According to Ministry of Information and Broadcasting, the Cabinet also decided to return the un-availed quota of government and private Hajj schemes to the Saudi Government. There will be flexibility for pilgrims over 80 years of age, with private group organizers required to hire local attendants in Saudi Arabia. The Cabinet approved a reduction in the hardship Hajj quota, with fifty percent of local moavineen to be Pakistani students in Saudi universities.

Additionally, the Cabinet approved a 40 percent tax on banks’ windfall profits earned during 2021 and 2022. It also agreed to include Congo, Malawi, Zambia, Zimbabwe, and Kyrgyzstan in the business visa list, updated the Exit Control List, and allocated a budget of 267.59 million rupees for the Jammu and Kashmir State property. The Cabinet directed the preparation of draft insurance of accession for the Hong Kong International Convention 2009 and exempted certain Public Procurement Regulatory Authority Rules for urea procurement. Bilateral Investment Treaties with Saudi Arabia and Qatar were also approved.

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