September 30, 2021 (MLN): The State Bank of Pakistan has granted an extension in the deadline for encashment, conversion and redemption of prize bonds of denomination of Rs15,000, Rs25,000 and Rs40,000 for another three months.
The general public can now encash, replace or convert these prize bonds by Dec 31, 2021. An extension has been given in order to facilitate the holders of these bonds.
The last date for redemption was due to expire on Sept 30, 2021. This is the third time that the government has given extension in the deadline for the conversion of prize bonds.
According to SBP’s data, the National Savings Schemes (NSS) witnessed a huge outflow of investments during FY21, clocking in at Rs317.25billion, compared to the inflows of Rs370.9billion recorded in the previous fiscal year. Prize bonds accounted for 92% of this outflow, at a whopping Rs290.38 billion.
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