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Pakistan discontinues Rs7,500 and Rs15,000 prize bonds

They can be encashed till Dec 31, Jun 30 respectively

SAMAA | - Posted: Apr 29, 2021 | Last Updated: 2 months ago
SAMAA |
Posted: Apr 29, 2021 | Last Updated: 2 months ago

The government has discontinued Rs7,500 and Rs15,000 prize bonds with immediate effect, the Finance Division said in a notification Thursday.

The Rs7,500 price bond can be encashed till December 31, 2021. The last date to redeem Rs15,000 bond is June 30, 2021.

The two bonds can also be converted into registered premium prize bonds of Rs25,000 or Rs40,000 denomination, special savings certificates or defence savings certificates.

The government previously discontinued Rs25,000 and Rs40,000 bonds and converted them into registered premium prize bonds.

The Financial Action Task Force had demanded Pakistan discontinue prize bonds to eradicate corruption and money laundering.

There will be no further draws for these Rs7,500 and Rs15,000 prize bonds, according to the Finance Division.

It asked people having these bonds to approach the State Bank of Pakistan field offices and commercial banks.

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