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Business & Finance

Govt extends encashment date of prize bonds

  • The branch / region wise consolidated data of cited denomination prize bonds held by them on last date i.e. September 30, 2021 shall be shared latest by October 1, 2021.
31 May 2021

The Ministry of Finance has extended the date for encashment and conversion of Rs.40,000, Rs.25,000, and Rs.15,000 denomination National Prize Bonds.

“It is to inform that the Finance Division, Government of Pakistan has extended the last date for encashment/replacement/conversion of Rs.40,000/, Rs.25,000/ and Rs.15,000/- denomination National Prize Bonds (bearer) upto September 30, 2021,” read a State Bank of Pakistan (SBP) circular on Monday.

The circular reads that the branch/region-wise consolidated data of cited denomination prize bonds held by them on the last date i.e. September 30, 2021, shall be shared latest by October 1, 2021.

The government last month decided to withdraw circulation of Rs 15,000 and Rs 7,500 prize bonds with immediate effect.

According to two notifications issued by the Ministry of Finance here, Rs 7,500 denomination prize bonds would not be sold with immediate effect and will not be encashed after December 31, 2021. Similarly, Rs 15,000 denomination prize bonds would not be sold with immediate effect and will not be encashed after June 30, 2021.

As per earlier instructions, Rs 40,000 and Rs 25,000 prize bonds will not be encashed/redeemed after 31st May 2021.

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