October 22, 2019 (MLN): Government’s efforts to document economy proving fruitful as the Central Directorate of National Savings (CDNS) Tuesday said that prize bonds worth Rs. 40,000 prize had witnessed immense conversion or selling in the last three months.
From June to August nearly Rs. 206 billion worth of Rs 40000 bonds were sold. In June, investment in Rs 40000 bonds was around Rs 259 billion whereas, in August, investment clocked in at Rs. 53 billion.
Moreover, investment in registered bonds increased sharply to Rs 14.83 bln from Rs 6.17 bln 3 months ago.
Earlier in June 2019, the government imposed a ban on further issuance of Rs 40,000 bonds. Therefore, the government of Pakistan offered to convert all the savings in Rs. 40,000 denomination prize bonds, till March 31, 2020.
In this regard, the bondholders have been given the option of either to convert their savings as deposits in their own accounts or buy National Saving Scheme (NSS) certificates.
