Pakistan Revenue
ISLAMABAD: The government has launched registered prize bonds of Rs25,000 denomination to discourage the informal economy and comply with laws related to anti-money laundering and counter financing of terrorism. Further, the decision to document the bearer prize bonds to comply with the conditions of Financial Action Task Force (FATF). The decision is part of documenting […]
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KARACHI: The government has stopped the sale of prize bonds of Rs25,000 denomination with immediate effect and the same shall not be encashed / redeemed after May 31, 2021, State Bank of Pakistan (SBP) said on Thursday. The SBP said that the finance ministry had already issued instructions in this regard a day earlier. The […]
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KARACHI: State Bank of Pakistan (SBP) on Tuesday announced extension in date for encashment, replacement and conversion of unregistered Rs40,000 denomination prize bonds. The SBP said that the date for withdrawal of the prize bonds had been extended up to December 30, 2021. The central bank said that the Finance Division, Government of Pakistan has […]
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ISLAMABAD: The ministry of finance on Thursday extended the last date to exchange bearer prize bonds of Rs40,000 denomination up to December 30, 2020. The last date to exchange the bearer prize bonds was expired on June 30, 2020. The government on June 24, 2019 announced to discontinue the circulation of Rs40,000 denomination national prize […]
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KARACHI: State Bank of Pakistan (SBP) on Monday directed commercial banks to ensure payment of prize bonds i.e. prize money and face value. The SBP said that it had observed that commercial banks have not been extending the desired level of support to their customers in availing the facility on payment of prize money and […]
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KARACHI: People now can surrender Rs40,000 denomination bearer prize bonds by June 30, 2020 and exchange the amount with registered bonds or other given options. Finance Division on Tuesday issued a notification to extend the last date for encashment/redemption of Rs40,000 bearer bonds from March 31, 2020 to June 30, 2020. The SBP stopped the […]
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KARACHI: An amount of Rs243 billion has been documented by people through surrendering bearer prize bonds of Rs40,000 denomination. According to official statistics, the investment in unregistered prize bonds of Rs40,000 denomination fell to Rs14.55 billion by December 2019 as compared with Rs258 billion in May 2019. The government on June 24, 2019, announced to […]
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KARACHI: People can surrender Rs40,000 denomination bearer prize bonds by March 31, 2020 and exchange the amount with registered bonds or other given options. The SBP stopped the issuance of Rs40,000 denomination prize bonds on June 24, 2019 and given deadline of March 31, 2020 for exchange the such denomination with other registered mode of […]
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KARACHI: People have documented an amount of Rs233 billion invested in bearer prize bonds of Rs40,000 denominations following the government announcement of discontinuation. According to statistics of Central Directorate of National Savings (CDNS) people have Rs323 billion bearer bonds of Rs40,000 denomination by October 2019, which is around 90 percent of the total invested amount […]
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KARACHI: The investment in premium prize bonds of Rs40,000 denomination has witnessed unprecedented growth of 157 percent after the government announcement to discontinue bearer prize bonds of same denomination. According to official documents, the investment in premium prize bonds of Rs40,000 denomination surged by 157 percent to Rs15.86 billion by September 2019 as compared with […]
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