What is the ruling on the "onedayonejuz" program, which obliges participants to read one juz' of the Qur'an daily, with a penalty imposed on whoever fails to complete it?

Reading the Qur’an in this manner is not good, and it carries the risk of punishing those who do not deserve punishment. This is because a reader who was assigned to recite a juz’ (section) and did not recite it is not considered as having abandoned an obligation or committed a forbidden act that warrants punishment. Even if their commitment were assumed, they still would not deserve punishment, as discipline is restricted to specific authorities. Furthermore, there is a concern that this collective daily recitation of the Qur’an could lead to innovations (bid‘ah). Although some scholars permit gathering to complete the recitation of the Qur’an without it being an obligation, refraining from it is safer and further removes one from falling into innovation.