Govt extends last date for encashment of prize bonds

November 2, 2022 (MLN): The federal government has extended the last date for encashment of withdrawn prize bonds of Rs7500, 15,000, 25,000, and Rs40,000 uncashed by Jun 30, 2023.

Furthermore, the government earlier had fixed a deadline of Jun 30 for the redemption of these prize bonds but some prize bond holders could not get their bonds redeemed.

The government has set the option for encashment of these prize bonds which are,

1. Encashment at Face Value
2. Conversion to premium prize bonds of Rs. 25,000 and/or Rs. 40,000 (Registered)
3. Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC)

The State Bank of Pakistan (SBP) has issued necessary instructions to commercial banks to accept requests from the general public for the exchange of the prize bonds till the extended date.

Following the instructions, the prize bonds can be redeemed from the SBP banking services corporation office and branches of commercial banks across the country till 30th Jun 2023.

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