Photo: File
Photo: File

The State Bank of Pakistan has given a new deadline of 7 months for the encashment of canceled prize bonds of various denominations.

According to the ongoing notification of the State Bank, prize bonds worth Rs 7500, 15000, 25000 and 40000 were discontinued in the previous period, the date for encashment, conversion or depositing these prize bonds in bank accounts was 23 March 2022.

According to the State Bank, hundreds of citizens holding such prize bonds were losing their capital after this date.

According to State Bank sources, after the expiry of the date, a large number of citizens had such prize bonds which could not be encashed.

For the convenience of such citizens, State Bank of Pakistan has announced further extension of this date.

According to the announcement, the closed prize bonds can now be converted or encashed within the next seven months, the last date for converting the closed prize bonds of various denominations is now 30 June 2023.