The Ministry of Finance has issued a notification announcing revisions to the interest rates of various National Savings Schemes.
According to the notification, the profit rate on Defence Savings Certificates has been reduced from 12.96 per cent to 11.94 per cent. The interest rate on Pensioners, Welfare, and Martyrs Certificates has also been revised downward, decreasing from 13.20 per cent to 12.96 per cent.
Meanwhile, the profit rate on Regular Savings Certificates has been lowered from 12.24 per cent to 11.52 per cent. The revised rates will apply as per the terms and conditions outlined in the official notification.
According to the notification, the interest rate on Special Savings Certificates has been reduced from 12.6 per cent to 11.43 per cent.
The interest rate on Savings Certificates will remain unchanged at 10 per cent. Meanwhile, the interest rate on the Sarwa 5-Year Islamic Certificate has been increased from 11.16 per cent to 11.52 per cent, while the rate on the Sarwa 3-Year Islamic Certificate has been revised upward from 9.16 per cent to 11.50 per cent.
On the other hand, the government has accelerated work on the Federal Board of Revenue’s National Faceless Centre, with Finance Minister Senator Muhammad Aurangzeb directing officials to keep the flagship tax reform on schedule while ensuring strong cybersecurity to protect taxpayer data.
Chairing a review meeting, Aurangzeb assessed progress on the implementation roadmap and operational readiness of the project, which is part of the FBR’s new Tax Operating Model aimed at making tax administration more transparent, efficient and technology-driven.
Read more: Govt steps up preparations for FBR’s digital faceless tax system
