The State Bank of Pakistan (SBP) has announced to discontinue the fresh issuance of Rs 40,000 prize bonds with effect from Friday (today). According to notifications of SBP Banking Services Corporation (SBP BSC), fresh issuance of Rs 40,000 denomination national prize bond will be discounted from all SBP BSC field offices with effect from February 15, 2019. No stamping of fresh prize bonds will be carried out by SBP BSC offices, it added.

Accordingly, the issuance of fresh prize bonds through cheques will also be discontinued with effect from Feb 15, 2019. However any pending request with processed realisation date after Feb 15, 2019 will be entertained through re-issuable balance. In case of non availability of re-issuable bonds, the applicant will have to opt any other denomination of national prize bond or the amount will be returned.

Copyright Business Recorder, 2019