The federal government of Pakistan has announced a 20% increase in the value of diyat, raising it to Rs8.1 million, alongside a reduction in interest rates on provident and other contributory funds for the fiscal year 2023-24.
According to a notification issued by the Ministry of Finance, the diyat amount has been set at Rs8,103,955, calculated based on the value of 630 grams of silver, in accordance with section 323 of the Pakistan Penal Code (PPC).
This represents a significant rise compared to the previous fiscal years, marking a 20% increase from the Rs6.76 million of FY2024 and a 56% rise from the Rs4.3 million set in FY2023.
Section 323 of the PPC mandates that the value of diyat—the compensation paid to the victim’s family in cases of homicide or injury—shall not be less than the value of 30,630 grams of silver, with the federal government updating this value annually.
In a separate move, the Ministry also decreased the interest rates on provident and contributory funds for FY2023-24 to 13.97%, down from the 14.22% set in FY2022-23.
The changes affect employees’ savings and funds contributed to provident schemes across the public sector.
