Govt cancels Prize Bonds of Rs7,500 and Rs15,000

To fulfil the requirement of the Financial Action Task Force (FATF), Pakistan Thursday announced to cancel all Prize Bonds of the value of Rs7,500 and Rs15,000, reported 24NewsHD TV Channel.

Ministry of Finance on Thursday issued a notification and declared that Prize bonds of value of Rs15,000 would not be cashed after 30th June.

While the prize bonds of value of Rs7,500 could be cashed before the end of the continuing year and after December 31, 2021 that would also not be cashed.

It is suggested to the prize bond holders who have the same value of bonds in their purse, must cash these before the deadline. The government has also given an option to exchange these bonds of both values into the Premium Prize Bonds of the value of Rs40,000 or Rs25,000.

It is further informed to the consumers that they would have to pay some extra charges to transfer their prize bonds from existing value to other value.

According to the notification, the government would not hold any new draw of these values of prize bonds and these bonds could be cashed through bank accounts and the prize bond holders could exchange their bonds with Special Savings and Defense Savings Certificates.

Reporter Waqas Azeem