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Govt extends date for bonds encashment, conversion to June 30, 2023

ISLAMABAD: The Federal Government has given another opportunity to investors to get withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023.

Earlier, the government had fixed deadline of June 30, 2022, for redemption, encashment of these prize bonds.

However, considering that some of the prize bond holders could not get their bonds redeemed a final opportunity has been given for encashment of prize bonds till 30th June 2023.

The investors of aforesaid prize bonds have following options of encashment or exchange:
a. Encashment at Face Value
b. Conversion to Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered)
c. Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC).
The prize bonds can be redeemed from SBP Banking Services Corporation office and branches of commercial banks across the country till 30th June 2023.

The SBP has issued necessary instructions to commercial banks to accept requests from general public for encashment or exchange of the prize bonds till the extended date.

The general public holding these bonds is encouraged to avail this final opportunity and get their holdings redeemed before 30th June 2023.

These prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline, thereby rendering them worthless.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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