Govt Extends Last Date for Encashment of Withdrawn Prize Bonds

The Federal Government has given another opportunity to the public by extended the last date for encashment of withdrawn prize bonds by June 30, 2023. According to the details, the public can redeem their prize bonds of Rs. 7500, Rs. 15,000, Rs. 25,000 and Rs. 40,000 by June, 2023.

Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds, however, considering that some of the prize bond holders could not get their bonds redeemed a final opportunity has been given for encashment of prize bonds till 30^th June 2023.

The investors of aforesaid prize bonds have following options of encashment or exchange:

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 (BSC) office and branches of commercial banks across the country till 30th June 2023. Furthermore, 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 members of general public holding these are encouraged to avail this final opportunity and get their prize bonds redeemed before 30th June 2023. It is pertinent to mention that these prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline, thereby rendering them worthless.

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