Dec 13

19th draw of Rs40,000 premium prize bonds announced

Central Directorate of National Savings (CDNS) has held 19th draw of Rs40,000 denomination prize bonds (premium or registered) and announced Rs80 million as first prize to the bond number (953829). The prize bond draw was held at Lahore on December 10, 2021. Three bonds i.e. (366951), (599135) and (629631) have been awarded Rs30 million each […]

by Faisal Shahnawaz

Prize Bonds (bearer) expire by this month

Dec 12

Money & Banking, National, Top stories

Prize Bonds (bearer) expire by this month

National prize bonds (bearer or unregistered) are expiring this month and the bills will become a useless piece of paper after December 31, 2021. The government has set a deadline of December 31, 2021, to withdraw bearer bonds with denominations of Rs7,500, Rs15,000, Rs25,000, and Rs40,000. READ MORE: History of Prize Bonds in Pakistan The […]

by Mrs. Anjum Shahnawaz

Oct 24

Money & Banking, Top stories

History of Prize Bonds in Pakistan

KARACHI: State Bank of Pakistan (SBP) has made Rs5 denomination prize bond as part of its museum. Prize Bond, as the name suggests, are Bonds issued by a Government, which do not promise any interest, but award a prize, determined by a draw held at fixed date or regular intervals. Prize Bonds are investment and […]

by Faisal Shahnawaz

Date extended for exchanging bearer prize bonds

Sep 30

Money & Banking

Date extended for exchanging bearer prize bonds

The finance division has notified extension in date for exchanging / conversion of bearer prize bonds from September 30, 2021 to December 31, 2021. The date has been extended for unregistered (bearer) prize bonds in denomination of Rs40,000/-, Rs25,000/- and Rs15,000. In order to comply with the Financial Action Task Force (FATF) for the prevention […]

by Faisal Shahnawaz

Prize bonds (bearer) to become worthless after Sept 30

Sep 26

Money & Banking

Prize bonds (bearer) to become worthless after Sept 30

Bearer prize bonds of major denominations including Rs40,000/-, Rs25,000/- and Rs15,000/- will become worthless after September 30, 2021 if no date extension announcement comes from the government. The last date for encashment or exchanging the bearer prize bonds with denominations of Rs40,000/-, Rs25,000/- and Rs15,000 is September 30, 2021, which was already extended from May […]

by Faisal Shahnawaz

Prize Bonds (Bearer) not to be encashed after Sept 30

Sep 8

Money & Banking

Prize Bonds (Bearer) not to be encashed after Sept 30

KARACHI: The last date to exchange or encash the unregistered of bearer prize bonds with denominations of Rs40,000, Rs25,000, and Rs15,000 is September 30, 2021. According to a circular issued by the State Bank of Pakistan (SBP), the Finance Division, Government of Pakistan has allowed to exchange/replace or convert Rs40,000, Rs25,000, and Rs15,000 denomination prize […]

by Faisal Shahnawaz

Withholding income tax rates on prize bonds

Aug 18

Taxation

Withholding income tax rates on prize bonds

Federal Board of Revenue (FBR) has issued updated rates of withholding income tax on winning of prize bonds during fiscal year 2021-2022. The withholding tax rates have been updated after incorporating changes made through Finance Act, 2021. WITHHOLDING TAX CARD 2021-2022 The FBR collects withholding tax under Section 156 of the Income Tax Ordinance, 2001. […]

by Faisal Shahnawaz

Date extended for encashment of bearer prize bonds

May 30

Finance

Date extended for encashment of bearer prize bonds

ISLAMABAD: The finance division has extended last date for redemption of bearer prize bonds Rs40,000 and Rs25,000 denominations up to September 30, 2021. According to notifications issued by the Finance Division the last date for redemption of Rs40,000 denomination bearer prize bonds has been extended up to September 30, 2021. Similarly, the last date for […]

by Mrs. Anjum Shahnawaz

What is last date for redemption of Rs40,000 prize bonds

May 2

Money & Banking

What is last date for redemption of Rs40,000 prize bonds

ISLAMABAD: Regulators are at odds over the last date for conversion/redemption of Rs40,000 denomination national prize bonds, which created distress amongst the prize bondholders. A public notice was issued by the Central Directorate of National Savings (CDNS) in February 2021, that the government had discontinued the sale of National Prize Bonds (Bearer) of Rs25,000 and […]

by Mrs. Anjum Shahnawaz

Sale of Prize Bonds Rs7,500, Rs15,000 stopped forthwith

Apr 29

Money & Banking

Sale of Prize Bonds Rs7,500, Rs15,000 stopped forthwith

ISLAMABAD: The finance ministry on Thursday announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold with immediate effect. In different notifications the finance division announced to withdraw the prize bonds of denominations Rs7,500 and Rs15,000 from circulation with immediate effect. According to the notifications: “… Prize bonds of Rs7,500 denominations […]

by Mrs. Anjum Shahnawaz