December is the last month to convert unregistered prize bonds of high denominations and if people fail to convert them, they will become just a piece of paper, reported 24NewsHD TV channel on Monday.

Reportedly, the government has announced to convert the unregistered prize bonds of Rs15,000, Rs25,000 and Rs40,000 denominations till Dec 31 and in case of non-conversion by that time, these bonds will become worthless and their value will be nothing more than a piece of paper.

According to documents, investors have yet to convert Rs28 billion worth of unregistered prize bonds of high denominations. So far, Rs400 billion worth of unregistered bonds have been converted.

The unregistered prize bonds could be converted through 16 offices of the State Bank of Pakistan. They could also be changed from five commercial banks i.e. National Bank, HBL, UBL, MCB and Allied Bank and also from Al-Falah Bank across the country.

The amount of the converted bonds will be transferred to the owners’ bank account.

Reporter Ashraf Khan