Karachi: The State Bank of Pakistan (SBP) has extended the deadline for the encashment and replacement of prize bonds of PKR 7,500, 15,000, PKR 25,000, and PKR 40,000 (unregistered) denominations till March 31, 2022, news sources reported. The previous deadline was set to expire on December 31.
Following the federal government’s directions, the central bank extended the deadline for encashment of these bonds. As per the Ministry of Finance, despite many deadline extensions, people still hold prize bonds worth billions. The following is a breakdown of the total value of various un-encashed prize bonds:
- PKR 1.10 billion worth prize bonds with a face value of PKR 40,000
- PKR 2.465 billion worth prize bonds with a face value of PKR 25,000
- PKR 8.2 billion worth prize bonds with a face value of PKR 15,000
- PKR 15 billion worth of prize bonds with a face value of PKR 7,500
As previously announced by the central bank, the unregistered prize bonds of PKR 7,500, PKR 15,000, PKR 25,000, and PKR 40,000 denominations can be converted to PKR 40,000 and PKR 25,000 denomination premium prize bonds (registered) through SBP Banking Services Corporation’s 16 field offices and branches of 19 authorised commercial banks. The premium bonds will only be issued against the buyers’ CNIC number and will be attached to their banking account.