Islamabad: The federal government has fixed 11.20 percent rate of markup chargeable on development loans and advances for the fiscal year 2021-22.
According to the Finance ministry notification, the federal government has fixed the rate of markup chargeable on development loans and advances for the fiscal year 2021-22.
The final rates of mark-up chargeable on cash Development Loans to the Provincial Governments, loans to local bodies, financial and non-financial institutions and other corporations Capital outlays of the Federal Government in the commercial departments.
The notification further stated that in the case of loans and advances for the purchase of conveyance and house building, the final rate of markup, i.e. 11.20 percent per annum, has been fixed for the fiscal year 2021-22.
It is pertinent to note that final rates of markup was 12.20% in 2019-20 and 10.30% in 2020-21 and now it has again revised upward, the notification stated.Â
