Federal govt reduces GPF, CPF interest rate

Government has now decided that profit rate of 13.97 percent will be applicable

By Rana Ghulam Qadir
October 04, 2024
A man counts Pakistani rupee notes at a currency exchange shop in Peshawar. — Reuters/File
A man counts Pakistani rupee notes at a currency exchange shop in Peshawar. — Reuters/File

ISLAMABAD: The federal government has reduced the interest on General Provident Fund of government employees and other loans of the same origin.

According to a notification issued by the Finance Division, for 2022-23 the Finance Division had set the annual rate of profit at 14.22 percent.

The government has now decided that profit rate of 13.97 percent will be applicable. It is applicable to General Provident Fund (GPF) and Contributory Provident Fund (CPF).