According to reports on Tuesday, the federal government has declared the final date for National Prize Bonds (NPBs) to be cashed in, converted, or redeemed.
The federal government has extended the deadline for redeeming Rs. 7,500, Rs. 15,000, Rs. 25,000, and Rs. 40,000 reward bonds till June 30, 2023, according to a State Bank of Pakistan (SBP) statement.
The government had previously set a deadline of June 30, 2022, for the redemption of these prize bonds; however, the notice noted that because some prize bond holders were unable to get their bonds redeemed, a final chance has been offered for the redemption of prize bonds until June 30, 2023.
The commercial banks were also instructed by the State Bank of Pakistan (SBP) to accept requests from the common people for the encashment, conversion, or redemption of the aforementioned denominations until June 30, 2023. It is important to note that investors may now deposit money into their accounts as well.
The selling of these four prize bonds had previously been halted by the federal government to promote the development of the national economy.