The Finance Division has announced an extension for the encashment, replacement, and conversion of National Prize Bonds (bearer) in denominations of Rs. 40,000, Rs. 25,000, Rs. 15,000, and Rs. 7,500. The new deadline is set for December 31, 2024.

In a circular issued by the State Bank of Pakistan (SBP), banks were informed of the federal government’s decision to extend the deadline, which was previously communicated as June 30, 2024. This extension provides additional time for bondholders to encash, convert, or redeem their National Prize Bonds (NPBs).

The SBP has instructed banks to submit consolidated data, organized by branch and region, of the specified denomination NPBs held as of the new deadline, December 31, 2024. This data must be submitted by January 2, 2025, in accordance with the guidelines outlined in CMD Circular No. 1 dated April 30, 2021.

Furthermore, all commercial banks are required to surrender the specified prize bonds to their respective SBP Banking Services Corporation (BSC) Office by January 31, 2025.