Govt employees to receive interest-free loans in KP

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has approved the policy of giving interest-free loans to government employees.

As per details, the loan can be acquired by the government employee for purchasing house, car and motorcycle.

The government employees from Grade 1 to 17, having the minimum service period of five years to the maximum of 10  years, will be eligible to apply for the loan.

Previously, in June, Prime Minister Imran Khan had summoned establishment division to mull over the matter of extending the retirement age of government employees.

It is pertinent to note that the official age of retirement for government employees is 60 years. As per sources, the KP government is likely to increase the retirement age by three years and it may announce this decision during its budget session.