Karachi: The State Bank of Pakistan (SBP) has extended the deadline for redeeming and replacing prize bonds in the denominations of PKR 15,000, PKR 25,000, and PKR 40,000 (unregistered) to December 31, according to news reports. The prior deadline had been set for today (September 30).
Following the federal government’s directions, the central bank extended the deadline for encashment of these bonds, according to the notification. The decision was made in response to requests from expatriate Pakistanis who were unable to return or redeem bonds because to travel restrictions imposed by the corona.
According to the new information, unregistered prize bonds in the denominations of PKR 7,500, PKR 15,000, PKR 25,000, and PKR 40,000 can be converted to Premium Prize Bonds (Registered) in the denominations of PKR 40,000 and PKR 25,000 through SBP Banking Services Corporation’s 16 field offices and branches of 19 authorised commercial banks.
Only the buyers’ CNIC number will be used to issue the premium bonds, which will be linked to their bank account. The administration will extend the deadline for the third time. The first deadline was set for March 2020, and the second for September 30, 2020.