Govt announces last date for encashment of prize bonds

KARACHI: The federal government has announced the last date for the encashment/conversion/redemption of National Prize Bonds (NPBs), ARY News reported on Tuesday.  

According to a notification issued by State Bank of Pakistan (SBP), the federal government extended the last date for encashment of Rs7500, 15,000, 25,000 and Rs 40,000 prize bonds by June 30, 2023.

“Earlier, the government had fixed deadline of June 30, 2022, for encashment of these prize bonds, however, considering that some of the prize bond holders could not get their bonds redeemed a final opportunity has been given for encashment of prize bonds till 30th June 2023,” the notification added.

The State Bank of Pakistan (SBP) also asked the commercial banks to accept requests for encashment/conversion/redemption of cited denominations from the general public till June 30, 2023.

“The general public holding these bonds is encouraged to avail this final opportunity and get their holdings redeemed before 30th June 2023,” it added.

Read More: Date for encashment of prize bonds extended

It is pertinent to mention here that the investors can now also deposit their money in their accounts. “Now bondholders can also buy government investment certificates,” the notification stated.

Earlier, the federal government had stopped the sale of these four prize bonds to support the documentation of the national economy.