The government has announced a downward revision in the profit rate for deposits held in the General Provident Fund (GPF) and Contributory Provident Fund (CPF) for the financial year 2024-25.
According to a resolution issued by the Ministry of Finance, the new profit rate has been set at 12.46% per annum, effective from July 1, 2024. This marks a decrease from the previous rate of 13.97%, which was applicable during the 2023-24 fiscal year.
The revised rate will apply to both the General Provident Fund (GPF) and Contributory Provident Fund (CPF).
Separate instructions regarding the profit rates for provident funds managed by the Ministry of Railways and the Ministry of Defence will be issued by the respective ministries.
The resolution has been ordered for publication in the Gazette of Pakistan to formalize the change for all concerned departments and subscribers.
