Discontinuation of Issuance of Fresh Rs. 40,000 Prize Bond

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40000 Prize Bond

According to State Bank, the purchase and sale of old 40000 prize bonds will continue to be routine. SBP Discontinuation of Issuance of Fresh Rs. 40,000 Prize Bond.

According to the State Bank of Pakistan, 40000 new bonds will not be issued since February 15, 2019. While the purchase of 40000 old bonds will continue to be routine and the draw and rewards of the bonds will continue.

Find out more about How To Check Prize Bond Original or Fake

According to data, so far more than Rs 900 billion has been sold big bonds. According to the Economic Analysis Cabinet, the government is taking such measures to make the economy white and narrow against the those people, who are hiding black money in the aid of prize bond.

Discontinuation of Issuance of Fresh Rs. 40000 Prize Bond

40000

a) Fresh Prize Bonds:

i. Issuance of fresh bonds will be discontinued from all SBP BSC offices w.e.f. February 15, 2019. It may please be noted that issuance of only fresh bonds is being discontinued.

ii. No further stamping of Fresh Prize Bonds will be carried out by SBP BSC offices.

iii. Accordingly, issuance of fresh prize bonds through cheque will also be discontinued w.e.f. February 15, 2019. However, any pending requests with proceeds realization date after February 15, 2019, shall be entertained through re-issuable balance only. In case of non-availability of re-issuable balance, the applicant will have to opt for any other denomination of NPBs or the proceeds will be returned to the bank account from which they were realized.

iv. Similarly, issuance of fresh prize bonds to National Savings Centers /Commercial Banks etc. will NOT be allowed w.e.f. February 15, 2019.

b) Re-issuable Prize Bonds:

i. Sale and Encashment of re-issuable balances shall continue as per prescribed procedure.

ii. Listing of bonds in PB-35 during the SHUT period shall also continue as per prescribed procedure.

 

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