Daily Times

The State Bank of Pakistan (SBP) on Monday extended the last date of redemption/encashment of prize bonds of Rs7500/Rs15,000/Rs25,000 and Rs40,000 by June 30.

The date has been extended keeping in view the hardship of those prize bond holders who could not get their bonds redeemed by the previous deadline of June 30, 2022. So “a final opportunity has been given for encashment of prize bonds till 30th June 2023,” the SBP said in a news release.

The investors of aforesaid prize bonds have options of encashment or exchange including encashment at Face Value, conversion to Premium Prize Bonds of Rs 25,000 and/or Rs 40,000 (Registered), replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC). The prize bonds can be redeemed from SBP Banking Services Corporation office and branches of commercial banks across the country till June 30, 2023.

The SBP has issued necessary instructions to commercial banks to accept requests from general public for encashment or exchange of the prize bonds till the extended date. “The general public holding these bonds are encouraged to avail this final opportunity and get their holdings redeemed before 30th June 2023,” it said, adding “These prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline, thereby rendering them worthless.”