Karachi: State Bank of Pakistan (SBP) announced an extension for encashment and redemption of withdrawn prize bonds of Rs 7,500, Rs 15,000, Rs 25,000 and Rs 40,000.  Date for encashment of prize bonds has been extended to June 30, 2023, statement issued by SBP said.

“Earlier, government  fixed deadline of June 30, 2022 for redemption/encashment of these prize bonds, however, considering that some of prize bond holders could not get their bonds redeemed final opportunity has been given for encashment of prize bonds till June 30, 2023,” it said.

Investors of aforesaid prize bonds can encash or exchange their bonds in one of possible ways include encashment at face value, conversion to premium prize bonds of Rs 25,000 and or Rs 40,000 (registered)

Replacement with Special Savings Certificates or Defence Savings Certificates.

“SBP has issued necessary instructions to commercial banks to accept requests from general public for encashment or exchange of prize bonds till extended date,” it said.

Published in The Daily National Courier, February, 16 2023

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