‘No increase in power tariff despite newly planned law’ – Conditions for giving ‘Zakat’ detailed
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KUWAIT CITY, June 10: Legal and economic committees in charge of studying the articles of law related to the establishment of Public Authority for Electricity and Water and the financial feasibility completed their assignment recently, reports Al-Nahar daily quoting ministry sources.
The same sources explained that government will soon refer the law to the National Assembly and table it for discussion in the next parliamentary term since the current parliamentary term is short. They noted the law improves the level of services and prevents bureaucracy, and also ensures constant development of electricity and water services. They affirmed that prices of electricity and water will not be increased due to the new law, noting prices will remain as recently endorsed by the National Assembly.
Meanwhile, a parliamentary source stated that members of the parliament will block any attempt to increase water and electricity tariff if the sector is finally managed by the about-to-be established authority. The source indicated the current law dictates that new tariff cannot be initiated without it first going through the parliament, indicating the MPs are fully awake and wellinformed on the issue. That’s why they won’t accept any increase in water and electricity charges.
Meanwhile, in an unrelated development, Zakat House has affirmed that giving or the payment of ‘zakat’ — a form of alms-giving among Muslims — is confirmed in the texts of the Holy Quran and traditions of Prophet Muhammad (PBUH), reports Al-Seyassah daily Chapter 9:34-35 of the Holy Qur’an says, “… And those who hoard gold and silver and spend it not in the way of Allah — give them tidings of a painful punishment; the Day when it will be heated in the fire of Hell and seared therewith will be their foreheads, their flanks, and their backs, (and it will be said), This is what you hoarded for yourselves, so taste what you used to hoard”.
On the other hand, in the traditions of Prophet Muhammad (PBUH), he said, “If any owner of gold or silver does not pay what is due on him, when the Day of Resurrection would come, plates of fire would be beaten out for him; these would then be heated in the fire of Hell and his sides, his forehead and his back would be cauterized with them …”
Throughout the ages, all Muslims agree that giving ‘zakat’ of “gold and silver” is obligatory and that applies to every financial transaction. Zakat House clarified that giving ‘zakat’ is obligatory only when the conditions are fulfilled as follows: wealth increases to a minimum threshold or ‘nisab’; the wealth on which ‘zakat’ applies should sustain ‘nisab’ throughout the lunar year including profits, inheritance, gifts, salary and allowances.
For example, if someone has KD 1,200 round the year — ‘hawl’ and at that time the price of 24 carat gold is KD 12 per gram. Therefore, the ‘nisab’ is 85 grams of pure gold multiplied by KD 12, equal to ‘nisab’ of KD 1,020. His zakat is KD 1,200 multiplied by 2.5 percent is equal to KD 30. Zakat is not applied on money below the ‘nisab’ of KD 1,020 as per the example.
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