The federal government has extended the deadline for redeeming withdrawn prize bonds worth Rs. 7,500, Rs. 15,00, Rs. 25, and Rs. 40,000 that were due to mature on June 30, 2023.
The government had previously set a deadline of June 30 for the redemption of these prize bonds, however some prize bond holders were unable to have their bonds redeemed by that date.
The government has set the option for encashment of these prize bonds which are,
- Encashment at Face Value
- Conversion to Premium Prize Bonds of Rs25,000 and Rs40,000 (Registered)
- Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC)
The State Bank of Pakistan (SBP) has provided commercial banks with the required guidance to allow requests for the exchange of prize bonds from the general public up until the extended deadline.
The prize bonds may be redeemed in accordance with the instructions at the offices of commercial banks nationwide and the SBP financial services organisation until June 30, 2023.
