Keeping in view the requests of some prize bond holders, the State Bank of Pakistan (SBP) on Tuesday announced the extension of the redemption date of the withdrawn prize bonds. 7,500, 15,000 Rs25,000, and 40,000.
“The Federal Government has given the people another chance. Prize bonds withdrawn 7,500, 15,000, 25,000 and 40,000 were redeemed or encashed till June 30, 2023,” read a statement issued by the central bank.
It should be noted that earlier there was a fixed deadline from the government. 30 June 2022for redemption or encashment of these prize bonds.
However, the central bank said that considering that some prize bond holders could not redeem or exchange their bonds, June 30, 2023 has been given a final opportunity to encash the prize bonds.
Investors of the said Prize Bonds may cash or exchange their Bonds in one of the following possible ways:
- Encashment at face value
- Conversion of Premium Prize Bonds of Rs.25,000 and/or Rs.40,000 (Registered)
- Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC).
Prize bonds can be obtained from SBP Banking Services Corporation office and commercial bank branches across the country.
“The State Bank has issued necessary instructions to commercial banks to accept applications from the general public for encashment or exchange of prize bonds till the extended date,” the statement said.
Encouraging the general public to take advantage of this final opportunity, SBP said these prize bonds will not be cashable or exchangeable after the extended deadline.