The government had discontinued these prize bonds through a notification on June 24, 2019. The State Bank of Pakistan (SBP) had also issued procedures for the banks to facilitate the general public in exchanging the unregistered prize bonds through three different modes.
These bearer prize bonds cannot be exchanged against cash; however, they could be redeemed against registered prize bonds, converted into national saving schemes, or face value (direct transfer to the bank account of bond holder).
Such prize bonds become unsaleable after June 24, 2019, and they will not remain encashable after March 31, 2020.
