The government of Pakistan has offered relaxation to the bearers of Rs40,000 denomination prize bonds, allowing the investors to register their unregistered bonds by March 31, 2020. Following the decision of the Economic Coordination Committee, a holder of Rs40,000 denomination prize bond could take advantage of various facilities in registering their bonds, according to a statement issued by the Finance Ministry on Wednesday (June 19).
“Rs40,000 Bearer Prize Bonds could be converted to Premium Prize Bonds (Registered) through 16 field offices of SBP Banking Services Corporation, and authorized branches of six commercial banks i.e. National Bank of Pakistan, United Bank Limited, MCB Bank Limited, Allied Bank Limited, Habib Bank Limited and Bank Alfalah Limited,” the statement read.
“In addition, Rs40,000 Bearer Prize Bonds holder can avail the opportunity to replace the bonds with Defence Saving Certificates (DSC) or Special Saving Certificates (SSC) through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks and national savings centres.”
The ECC had further decided that no further prize bond draw of Rs40,000 would be held, however, all the prize money claims on the already held draws could be claimable within the period of six years from the date of respective draw, as per National Prize Bonds Rules, 1999.
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20 September, 2019