The government approved increasing the Hajj expenses to Rs1.175 million per pilgrimage – a surge of 68% over the past year. Moreover, outsourcing the financing of half of the quota to save $444 million amid a severe economic crunch was also permitted by the government.
A finance ministry handout stated that the Ministry of Religious Affairs submitted a summary on Hajj Policy 2023. The total foreign currency requirements for 2023 Hajj were $534 million – a sum that is equal to 14% of the country’s official foreign exchange reserves as of last week.
The ECC, after discussion, approved the Hajj-2023 policy and agreed to provide foreign exchange cover of $90 million.