The Government of Khyber Pakhtunkhwa Finance Department recently released a notification on 13th July 2023, announcing the new rates of mark-up on GP Fund 2022-23 KP. This update brings significant changes to the General Provident Fund (GP Fund) interest rates for the year 2023. It is crucial for individuals to stay informed about these changes, as they can have an impact on their financial planning and investments. In this article, we will delve into the details of the new rates and provide a comprehensive understanding of the topic.
The General Provident Fund (GP Fund) is a savings scheme offered to government employees in Khyber Pakhtunkhwa. It serves as a long-term investment tool, providing financial security and stability during and after an individual’s service period. Employees contribute a portion of their salary towards the fund, and it accumulates interest over time.
Revision of Markup Rates on GP Fund
Here we can see the previous and new markup rates apply to the GP fund.
- The markup rate for the fiscal year 2020-2021 is 7.90%.
- The marker prayed for the fiscal year 2021-2022 is 12.40%.
- The market rate for the fiscal year 2022-2023 is 14.22%.
Markup Rates of Previous Years and For 2022-23
| Sr.No | Fiscal Years | Markup Rate |
| 1. | 2020-2021 | 07.90% |
| 2. | 2021-2022 | 12.40% |
| 3. | 2022-2023 | 14.22% |
