ISLAMABAD — The federal government has given the green light to an increase in the profit rate for the provident fund for federal employees.
According to the Ministry of Finance, the profit rate of the GP Fund, which was 12.40% for the fiscal year 2021–2022 has now been raised to 14.22% for the following fiscal year.
The Controller General of Accounts has been informed in a letter by the Ministry of Finance about the development.
It is worth mentioning here that Federal govt had already announced increase in pension in Finance Bill 2023-24.
Finance Minister in his budget speech in National Assembly announced 17.5% increase in pension of the retired government employees.
Also the federal government has approved whooping increase in salaries of government employees.
Finance Minister said that an increase of 35% in salaries of employees of Grade 1 to 16 while 35% increase has been approved for officers of Grade 17 and above.
Pakistan notifies increase in pensions for retired govt employees
