Encashment date of prize bonds extended till March 31

MG News | December 18, 2021 at 04:14 PM GMT+05:00

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December 18, 2021 (MLN): The government on Saturday, has extended the date for encashment, conversion and redemption of Rs40,000, Rs25,000, Rs15,000 and Rs7,500 prize bonds up to March 31, 2022, according to the finance ministry.

The last date for redemption was due to expire on Dec 31, 2021. This is the fourth time that the government has given an extension in the deadline for the conversion of prize bonds.

Currently, the general public holds Rs1.1 billion worth of Rs 40,000 bonds, Rs 2.465 billion worth of 25,000 bonds, Rs 8.2 billion worth of 15,000 bonds and Rs 15 billion worth of 7500 bonds.

According to SBP’s data, the National Savings Schemes (NSS) witnessed Rs79bn outflow of investments during 4MFY22, against an inflow of Rs24.84bn in the same period last year. Prize bonds accounted for 81% of this outflow, at a whopping Rs64.36 billion.

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