Deadline extended for conversion of unregistered prize bonds until Dec 31

Public urged to cash or convert Rs40,000, Rs25,000, Rs15,000, and Rs7,500 unregistered prize bonds; Govt extends deadline due to over Rs4 billion in unconverted prize bonds; State Bank directs all banks to process conversions

The government has extended the deadline for converting unregistered prize bonds, allowing holders to cash or exchange bonds with face values of Rs 40,000, Rs25,000, Rs15,000, and Rs7,500 until December 31, 2024.

According to the 24NewsHD TV channel, this decision comes as over Rs. 4 billion worth of unregistered prize bonds remain unconverted, prompting the government to give bondholders another opportunity.

Originally, the final date for conversion was set for June 30, 2024, but the extension aims to ensure that those who missed the initial deadline can still convert their bonds.

The State Bank has issued instructions to all banks to process these conversions and has requested that all records related to prize bonds be submitted by January 2, 2025.

Prize bondholders are advised to act promptly, as this extension serves as the final opportunity to convert their unregistered bonds.

Reporter: Ashraf Khan