The Ministry of Finance has suggested discontinuing the sale of prize bonds of three denominations – Rs. 7,500, Rs. 15,000, and Rs. 25,000 with immediate effect.
The Finance Division told a meeting that the government has launched premium prize bonds of Rs. 40,000 denomination that offer both, biannual profit and the prize on quarterly draws, in a bid to promote documentation of the economy and offer better results to the investors.
The Finance Division had proposed to withdraw the Rs. 40,000 bearer prize bonds with immediate effect. It maintained that the public should be given the option of conversion to register premium prize bonds, replacement with Special Saving Certificates/Defense Saving Certificates, or encashment through bank accounts.
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Rs. 40.000 Prize Bonds Can No Longer be Sold: SBP
The division proposed that further sale of bearer National Bonds of the aforementioned denominations should be discontinued from the office of State Bank of Pakistan (SBP) Banking Services Corporation, National Savings Centers, and commercial banks with immediate effect.
However, it maintained that the prize bonds’ draws for these three denominations should continue as per the draw schedule till further orders. The proposals were considered by the Economic Coordination Committee (ECC), which allowed the division to withdraw the Rs. 40,000 prize bonds with the said options for encashment by March 31, 2020.
Till date, no official announcement has been made as to what will become of the other prize bonds of Rs. 7500, Rs. 15,000, and Rs. 25,000.
Sharam Ani chahye Imran Khan ko awam ko pis rhy ho Allah k Han kya jawab do gy sharm ho to doob k Mar jao.
yes madam shram tu tax choro ko bho honi chaie jin waja sa log gareeb hotay hai logo ko tax dana acha nahi lag raha
this explains the recent dollar rise. people who knew about it converted their money to dollars. some banks are now keeping their branches open for 24 hours to facilitate people who want to cash out their prize bonds before the end of the financial year.
It is confirmed that all the other bonds except 200, and 40,000 are going to be discontinued. The draw will be conduced until all the bonds return back to Government. Every bond will get a prize. State bank will not return 750, 1500, 7500, 15000 and 25000 bonds once the prize is claimed. So whoever wants to buy these bonds in double price, contact me.
Very Excellent