In a significant development, the Federal Government of Pakistan has announced the revised Diyat (blood money) value for the financial year 2023-2024 (FY24). This move, outlined in a recent notification from the Finance Division. It sets the value of 30,630 grams of silver at Rs. 6,757,902, marking a substantial increase from the previous fiscal year.
Diyat is a form of financial compensation. It is provided to the victim or their heirs in cases of murder, bodily harm, or damage to property as per sub-section (1) of Section 323 of the Pakistan Penal Code (Act XLV of 1860). This announcement by the government is crucial as it reflects the monetary value assigned to this compensation for the coming fiscal year.
Previous Year Comparison:
For FY23, the Diyat rate was fixed at Rs. 4.318 million, highlighting a significant uptick in the value for FY24. This increase in Diyat value signifies financial needs of victims and their families in cases of criminal acts.
However, this adjustment in the Diyat value aims to ensure fair and just compensation for victims. It is a reflection of the evolving economic conditions in Pakistan.
The Government’s decision to raise the Diyat value to Rs. 6.75 million for FY24 is expected to have a positive impact on the victims and their families, providing them with a more substantial financial recourse in times of distress. This move underscores the government’s dedication to upholding justice and ensuring that victims receive fair compensation for their losses.
 value for the financial year 2023-2024 (FY24).){kind=link}