ISLAMABAD – The federal government has discontinued Rs25,000 prize bonds, said a notification issued by the Finance Division on Thursday.
The discontinuation was reportedly made in line with the action plan given by the Financial Action Task Force to curb money laundering and terror financing.
The investors can covert or cash their Rs25,000 prize bonds by May 31, 2021. After the deadline, people will not be able to redeem the prize bond.
The finance division said that the bonds can be converted to Premium Prize Bonds, Special Saving Certificates, Defence Saving Certificates or encashed at face value.
The investors can convert their bonds to certificates through 16 field offices of the State Bank of Pakistan (SBP) or at branches of six authorised banks.
