Prize bonds

This is to draw the attention of the government and State Bank authorities to the revised tax rate on prize bonds. Hundreds of people across the country invest their money in prize bonds. During the previous fiscal year 2016-17, the government increase the tax rate from 15 percent to 20 percent on the winning amount of prize bonds. This reduced the after-tax winning amount to a significantly low level.

The higher authorities should increase the winning amount on prize bonds so that more people could invest in prize bonds, leading to more revenue to the government.

Nasir Uddin Bangash (Haripur)