Karachi: The State Bank of Pakistan (SBP) has extended the deadline for the encashment and replacement of prize bonds of PKR 15,000, PKR 25,000, and PKR 40,000 (unregistered) denomination to December 31, news sources reported. The previous deadline was set to expire today (September 30).
According to the notification, the central bank extended the deadline for encashment of these bonds upon the directives of the federal government. The decision was made in response to appeals from overseas Pakistanis who were unable to travel to Pakistan to return/encash bonds as a result of corona-induced travel restrictions.
As per the new information, 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.
This will be the third time the government will extend the deadline. The first deadline was set for March 2020, the second was set to expire on September 30.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
