Federal Government lowers interest rate on general provident fund for government employees

The federal government has announced a reduction in the interest rate on the General Provident (GP) Fund for government employees, reported 24NewsHD TV channel on Friday.

The interest rate for the financial year 2023-24 has been set at 13.97%, down from 14.22% in the previous financial year 2022-23.

The Ministry of Finance has officially issued the notification regarding the revised interest rate on the GP Fund.