{"id":75888,"date":"2021-04-30T13:43:32","date_gmt":"2021-04-30T08:43:32","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=75888"},"modified":"2021-04-30T15:25:12","modified_gmt":"2021-04-30T10:25:12","slug":"govt-withdraws-pkr-7500-prize-bonds-from-circulation","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-withdraws-pkr-7500-prize-bonds-from-circulation.html","title":{"rendered":"Govt withdraws PKR 7,500 prize bonds from circulation with immediate effect"},"content":{"rendered":"\n<p>Islamabad: The government on Thursday has announced its decision to withdraw prize bonds of PKR 7,500 denomination with immediate effect and has enabled its conversion into registered bonds of higher denomination, according to a news source.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cabinet-waives-income-taxes-bonds-attract-foreign-investors.html\" target=\"_blank\" rel=\"noreferrer noopener\">Cabinet waives income taxes on bonds to attract foreign investors<\/a><\/p>\n\n\n\n<p>The said decision was conveyed through a notification issued by the finance ministry declaring that the government had ordered to \u201cwithdraw Rs7,500 denomination National Prize Bonds from circulation with immediate effect under Sub-Rule 1 of Rule 4 of National Prize Bonds Rules 1999\u201d.<\/p>\n\n\n\n<p>Moreover, the notification stated the bonds of PKR 7,500 denominated will be encashed or redeemed after December 31, 2021, and not to be sold with immediate effect. However, Sub-Rule 2 will not apply to the winning bonds and they will be handled under Rule-15.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/adb-issue-offshore-pakistan-rupee-linked-bonds-international-investors.html\" target=\"_blank\" rel=\"noreferrer noopener\">ADB to issue offshore Pakistan Rupee Linked Bonds for international investors<\/a><\/p>\n\n\n\n<p>The bondholders will have the following three options to replace or encash them:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li>Conversion of PKR 7,500 bonds into Premium Prize Bonds (registered) of denomination of PKR 25,000 or <a href=\"https:\/\/www.zameen.com\/news\/pkr-177b-documented-through-pkr-40000-bearer-bonds.html\" target=\"_blank\" rel=\"noreferrer noopener\">PKR 40,000<\/a><\/li><li>The bonds can be replaced by Special Savings or Defence Savings certificates<\/li><li>The bonds will be encashed only by transferring the proceeds to the bond holders\u2019 bank accounts<\/li><\/ol>\n\n\n\n<p>Reportedly, from now onwards, no further draw of PKR 7,500 denomination bonds shall be held.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government on Thursday has announced its decision to withdraw prize bonds of PKR 7,500 denomination with immediate effect and has enabled its conversion into registered bonds of higher denomination, according to a news source. Read: Cabinet waives income taxes on bonds to attract foreign investors The said decision was conveyed through a notification issued by the finance ministry declaring that the government had ordered to \u201cwithdraw Rs7,500 denomination National Prize Bonds from circulation with immediate effect under Sub-Rule 1 of Rule 4 of National Prize Bonds Rules 1999\u201d. Moreover, the notification stated the bonds of PKR 7,500 denominated will be encashed or redeemed after December 31, 2021, and not to be sold with immediate effect. However, Sub-Rule 2 will not apply to the winning bonds and they will be handled under Rule-15. Read: ADB to issue offshore Pakistan Rupee Linked Bonds for international investors The bondholders will have the following three options to replace or encash them: Conversion of PKR 7,500 bonds into Premium Prize Bonds (registered) of denomination of PKR 25,000 or PKR 40,000 The bonds can be replaced by Special Savings or Defence Savings certificates The bonds will be encashed only by transferring the proceeds to&hellip;<\/p>\n","protected":false},"author":75,"featured_media":75881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[45850],"persona":[],"class_list":{"0":"post-75888","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-govt-withdraws-pkr-7500-prize-bonds-from-circulation","10":"cat-15016-id","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt withdraws PKR 7,500 prize bonds from circulation - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government on Thursday has announced its decision to withdraw prize bonds of PKR 7,500 denomination with immediate effect and has enabled\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-withdraws-pkr-7500-prize-bonds-from-circulation.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt withdraws PKR 7,500 prize bonds from circulation - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The government on Thursday has announced its decision to withdraw prize bonds of PKR 7,500 denomination with immediate effect and has enabled\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-withdraws-pkr-7500-prize-bonds-from-circulation.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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