The State Bank of Pakistan (SBP) announced on Thursday an extension in the deadline for encashment, conversion, and redemption of prize bonds of denominations of Rs15,000, Rs25,000, and Rs40,000.

"In this connection, it is informed that Finance Division, Government of Pakistan has extended the last date for encashment/replacement/conversion of Rs. 40,000/-, Rs. 25,000/- & Rs. 15,000/- denomination National Prize Bonds (bearer) up to December 31, 2021," read the SBP circular.

Back in May, the Finance Division, Government of Pakistan extended the deadline to September 30, 2021.

“Accordingly, all banks are advised to accept requests for encashment/conversion/redemption of cited denominations of NPBs from general public till December 31, 2021. Further, the banks shall submit branch / region-wise consolidated data of cited denomination prize bonds held by them on last date i.e. December 31, 2021 latest by the next working day i.e. January 4, 2022,” the SBP stated.