All holders of prize bonds worth Rs7,500, 15,000, 25,000, and 40,000 can redeem the withdrawn prize bonds till June 30, 2023 after the State Bank of Pakistan (SBP), with the federal government's approval, extended the date.
It should be noted that earlier, the government had fixed a deadline of June 30, 2022, for the redemption or encashment of these prize bonds.
However, the central bank — in a statement issued in this regard — stated: “The federal government has given another opportunity to the public to get the withdrawn prize bonds of Rs7,500, 15,000, 25,000 and 40,000 redeemed or encashed by June 30, 2023."
However, the central bank said that considering that some of the prize bond holders could not get their bonds redeemed a final opportunity has been given for the encashment of prize bonds till June 30, 2023.
The investors of aforesaid prize bonds can encashment or exchange their bonds in one of these possible ways:
The prize bonds can be redeemed from the SBP Banking Services Corporation office and branches of commercial banks across the country.
“The SBP has issued necessary instructions to commercial banks to accept requests from the general public for encashment or exchange of the prize bonds till the extended date,” the statement read.
Encouraging the general public to avail of this final opportunity, the SBP said these prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline.
Ishaq Dar's predecessor Miftah Ismail had said country will default in October if IMF programme not revived
Government is targeting various goals for next fiscal year, including GDP growth of 3.5%, reducing inflation and trade...
SBP says reserves have fallen $102 million as of the week ended May 26 due to external debt repayments
Price of gold decreases by Rs5,400 per tola and Rs4,629 per 10 grams
PBS data shows that CPI-based inflation hit 36.4% in April 2023, while it increased 1.6% in May MoM
"Completion of all reviews before June 30 seems impossible and govt has decided against seeking an extension," sources...