Prime Minister Shehbaz Sharif has approved a summary for an interest-free Hajj savings scheme aimed at helping Pakistanis prepare financially for the rising cost of the pilgrimage.
Developed jointly by the Ministry of Finance and National Savings, the scheme will allow prospective pilgrims to set aside money each month through a digital system.
Participants will be able to choose a savings period suited to their financial circumstances, allowing them to plan their contributions ahead of Hajj.
The proposed scheme also includes provisions for transferring savings accounts or related facilities to other family members. Participants will be allowed to withdraw their deposited funds at any stage without deductions.
The initiative aims to make advance financial planning more accessible through monthly savings and digital payment options, rather than requiring pilgrims to arrange the full amount at once.
Sources said officials are also considering extending the model to Umrah and other religious pilgrimages. However, that expansion remains under consideration.
Detailed procedures and regulations for the Hajj Savings Plan are expected to be finalized within the next two months. Further information, including the formal launch date and participation process, is expected after the rules have been completed.
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