Date for encashing cancelled prize bonds extended again

The State Bank of Pakistan has once again extended the date for encashing the cancelled prize bonds until June 30, 2023, reported 24NewsHD TV channel.

The government had earlier set June 30, 2022, as the date for encashing these prize bonds.

Now public will be able to encash the prize bonds of Rs7500, Rs15,000, Rs25,000, Rs40,000 until June 30.

In addition, the encashed amount of these prize bonds at the original price can be transferred to a bank account, while bonds worth Rs25,000 and Rs40,000 can be changed into premium prize bonds.

These encashed prize bonds can also be converted into special savings certificates or defence savings certificates.

According to the SBP, prize bonds can be encashed from the SBP's banking corporation offices or commercial banks. Necessary instructions have also been issued to the banks in this regard.

It is to be noted that after June 30, 2023, these prize bonds will not be usable and will not be encashed or converted.