Government Extended the Deadline for Encashment of Prize Bonds

The government has once again extended the deadline for encashing, converting, and redeeming National Prize Bonds (NPBs).

The government has extended the deadline for withdrawing the Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500 denomination National Prize Bonds from circulation until June 30, 2023, according to a notice released by the Finance Division.

The State Bank of Pakistan (SBP) has requested that all branches be directed to accept requests for encashment/conversion/redemption of mentioned denominations from the general public up to June 30, 2023. This request was made in a circular sent to the presidents/CEOs of commercial banks.

In accordance with the instructions, the banks must also send branch- and region-specific consolidated statistics on the stated denomination NPBs held by them as of the final day, June 30, 2023, no later than July 4, 2023.

In order to promote the development of the national economy, the federal government halted the selling of these four prize bonds.

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