Deadline to Encash Withdrawn Prize Bonds Set to Expire 

Only one day has left to save investments in withdrawn National Prize Bonds of Rs. 7,500, Rs. 15,000, Rs. 25,000, and Rs. 40,000 issued by the Government of Pakistan as the final deadline for return of the bonds is ending on December 31, 2024.   No applications will be entertained after this date, the State Bank of Pakistan reminds the owners, who can return or exchange the bonds at any office of the SPB Banking Services Corporation, as well as at the branch of any commercial banks.   The Rs. 40,000, Rs. 25,000, Rs. 15,000 and Rs. 7,500 denomination National Prize Bonds (bearer) were withdrawn from circulation in June 2019.   However, the government has kept extending the deadline to facilitate the holders of the withdrawn bonds and December 31, 2024, was the final deadline fixed by the Finance Department in the October this year for encashment, conversion or replacement of the mentioned denominations of the bonds.  The SBP’s Banking Services Corporation had advised all commercial banks to accept requests in the regard from general public at all branches till the fixed deadline.   The investors of aforesaid prize bonds have three options i.e. Encashment at Face Value; Conversion to registered Premium Prize Bonds; or Replacement with Special or Defense Savings Certificates (SSC and DSC).  As the discontinued prize bonds could not be en-cashed or exchanged after the expiry of the extended deadline, rendering them worthless, the general public holding these bonds is encouraged to avail this final opportunity and get their holdings redeemed before the deadline of December 31, 2024.