Government Reduces Profit Rates on New Pakistan Certificates in Multiple Currencies

Islamabad:The government has reduced the profit rates on New Pakistan Certificates in various currencies. According to the State Bank and the Ministry of Finance, the profit rate on 12-month New Pakistan Certificates in Pakistani Rupees has been decreased by 850 basis points, dropping from 21.50% to 13%.

The profit rate on 12-month New Pakistan Certificates in US Dollars has also been reduced by 200 basis points, from 9% to 7%. Similarly, the profit rate on 12-month New Pakistan Certificates in British Pounds has been lowered by 75 basis points, from 8% to 7.25%.

Furthermore, the profit rate on 12-month New Pakistan Certificates in Euros has been reduced by 175 basis points, from 7% to 5.25%. This adjustment reflects the government’s efforts to manage economic conditions and stabilize the financial markets.