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Student welfare bond sells like hot cake on opening day

BondsMULTAN: Students Welfare Prize Bonds (SWPBs) fetched Rs 20 million from Multan region alone on the first day of its launch by the Central Directorate of National Savings (CDNS), officials said Friday.

 

People waited in queue outside the 40 CDNS branches in Multan region and they bought 200,000 SWPBs on the opening day, today, said Malik Arsalan, the assistant director CDNS Multan region. It may be noted that CDNS had launched SWPBs and opened its sale today throughout the country.

 

The sale of the Rs 100 bond would continue till December 15 and first draw would be held on February 15, 2013. The first prize amounts to Rs 700,000, while three prizes worth Rs 200,000 each, and 1196 prizes worth Rs 1000 each would be given, the official said.

 

Copyright APP (Associated Press of Pakistan), 2012