Govt to discontinue Rs25,000 prize bonds

The federal government has decided to discontinue Rs25,000 denomination prize bonds.

According to a report by ARY News, the move is aimed at addressing concerns of the Financial Action Task Force (FATF) regarding reported failure to check money laundering and terror financing.

In the first phase, the Rs25,000 denomination bonds will be converted into premium bonds with their registration to start by December-end.

Later, the Rs15,000 and Rs7,000 denomination prize bonds will be registered.

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According to reports, bond holders will have to submit a copy of their CNIC and fill a form to be provided by the State Bank of Pakistan (SBP) for encashment of their bonds. The prize on all types of denominations will not be given in cash but transferred to the holders’ account.

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47 COMMENTS

  1. The said step must had been taken by the present regime of PTI much earlier.

    Now PTI government must also discontinue the big currency notes of Rs.5,000/=, Rs.1,000/= and Rs.500/= and it’s necessary as because the FEDERAL & ALL PROVINCIAL GOVERNMENT EMPLOYEES COLLECTS BRIBES IN MILLIONS OF RS. SPECIFICALLY IN BIG CITIES LIKE KARACHI WHERE SBCA CONCERNED DIRECTORS COLLECTS IN MILLIONS FROM UNAUTHORIZED BUILDINGS SPECIFICALLY BUILT IN KARACHI SOUTH AREA OF GARDEN EAST AND GARDEN WEST.

    MORE PEOPLES BUY FROM CORRUPTION OR UNDECLARED MONEY FLAT AND HOUSE WHICH HAS VALUE RANGING FROM RS.10 MILLIONS TO RS.50 MILLIONS AND CLOSING THE BIG AMOUNT NOTES AND BONDS IT WILL BE ALMOST IMPOSSIBLE TO TAKE SUCH A BIG DEMAND BY CORRUPT OFFICIALS AND HOW AMOUNT WILL CARRY CORRUPTION AMOUNT OF MILLIONS RUPEES IN RS.100 NOTES IN DENOMINATION

  2. Again customer submit National tax number certificate along with copy of CNIC , and Income tax return fiscal year recent copy and Account maintenance certificate of bank statements

    • Friend of Gangsters and chief of thieves is a most honest and loyal man in the country. What a funniest thing and unbelievable truth.

  3. I have been working in overseas since 2002 all this time I have been saving in government saving certificates and prize bonds .last year the government said they will discontinue the RS 40000 bond and they are still in circulation and now the government wants to discontinue the Rs 25000 bond .
    Then where shall we invest in some other country .
    The Government knows who the culprits are and can’t catch them .
    We are not there always in Pakistan to follow procedures and keep changing the place of investment .
    We keep sending money from overseas back to our own country and we don’t even have a national tax number.

  4. I think this is a big tragedy or conspiracy against the construction for new pakistan, already the people of pakistan mostly seem to un happy for the imposing policies on them, on this step the Pakistan financially crash down, GDP will go down , bad Impact on export and import. Justification is for that, how many people of pakistan have this high denomination? Suppose 2 lac or 5lac at higher level and at lower level it will be more tnan crossing crores , which impact factor is best to read! at lower level or higher level, and mind divertion at this stage when Pakistan crucially facing big challenges INTERNATIONAL financial problems, the government must consider about this tender decision, think about the strengthen and prosperity of the dearest

  5. I think this is a big tragedy or conspiracy against the construction for new pakistan, already the people of pakistan mostly seem to un happy for the imposing policies on them, on this step the Pakistan financially crash down, GDP will go down , bad Impact on export and import. Justification is for that, how many people of pakistan have this high denomination bond? Suppose 2 lac or 5lac at higher level and at lower level it will be more tnan crossing crores , which impact factor is best to read! at lower level or higher level?? and mind divertion at this stage when Pakistan crucially facing big challenges INTERNATIONAL financial problems, the government must consider about this tender decision, think about the strengthen and prosperity of dearest, beloved PAKISTAN Internally and externally. Pakistan pindabad 🇵🇰🇵🇰❤️🌹🌹🙏

  6. This will be an other stuped act of PTI gov.there is a simple way of saving for common man to buy prize bond which can cash any time.and millions of rupies are invested in it.now at one end gov need money and on the other end gov discouraging people from investment.the point that this could change the corruption culture is falls.this is govt failure that they cannot control corruption.

  7. It,s means that the PTI Government is also Involved in the Corruption. Where as you can show it, its own name. If you read carefully to PTI & The Word Corruption. PTI is comes in the Word Corru-pti-on. So, its in end PTI is so Confused Party. Which is known as Dictator Mushraf,s Mix Achaar Masala Party. Every one is Confused in this Party. You can easily say to it, every one is Confused Person in this Party. And Confused Party,s Decision is also Confused Decision.

  8. Government should banned current 5000 rps note, and introduce new type of 5000rps note, and all old note should be returned to state bank for replacement, that how government can trace-out black money of specially government officials, by taking their identity details while coming for conversion.

  9. The decision has been dictated by FATF and IMF and has less to do with the government’s own decision making. Therefore we cannot blame IK govt for this. What IK can do is to reduce circulation of PKR 5000/- and PKR 1000/- notes immediately to curb corruption and illegal activities. Moreover continuous promotion of digital channels at all levels at zero cost will help the people of Pakistan immensely.

  10. Stupid Governess can decide in stupid way lmran Khan couldn’t do anything constructive all are looters big corrupt lmran Khan bcz someone else is actual.PM then in free time he did these stupid things to tell people l am pm hahaha

  11. Govt has used 25000 bond holders money and in shut period, they have decided to not hold draw. Govt has made Profit and will be making profits untill all bonds in the country are en-cashed. Very smart move by government to deprive people of their investment and make profit at no cost at all.

  12. Why people afraid to register the bond . only are corrupt people afraid like Corrupt and Thief Zardari n Shareef family and there followers. Dears go ahead so simple do register or convert or encash. dont worry if you are not a Corrupt. chor kee Daarhee maen tinkaaaaa.

  13. Imran Niyazi Dallay, Ghreeb k liye ek chance tha k uski life bhi set ho jaye kismat sey..

    mager tu kisi aysi runddee ki nasal hai jo sasta nasha ker k pagal hoa phir raha hai.. bharway.. aaj tak kisi govt ne ayse nahi kya jyse tu ker raha hai khanzeer ki nasal imran niyazi…. dallah

  14. Clarity and simple process must be for registration and prize bond must be registered on line by individual’s keeping them also persons having no account in bank prize bonds also no personal access to internet must be feslitated near to their towns etc

  15. The idiotic policies of the PTI govt are messing the economy. Dubai Singapore Hong King all are safe havens for corrupt or tax evaded money of Pakistanis. If we allow Pakistanis to invest in their own country without fear or harassment by FBR and SBP we can attract billions of dollars of Pakistanis money stashed abroad. No foreigner is coming to invest. However Imran Khan being an idiot does not understand that countries like Singapore which he admires so much are living off corrupt money. Singapore has only six local banks and over 100 foreign banks. There is no corruption there but it’s because Singapore has black money of other nations hidden in its bank coffers. In Pakistan we terrorise anyone who has money so there is flight of capital which is one big reason for our country being bankrupt. The PTI narrative that corruption is reason for our poor economy is totally false. Corruption occurs everywhere in the western world too. It’s just more sophisticated. Until Imran Khan comes to his senses Pakistan will continue to remain bankrupt and a beggar nation. Our unregistered economy is our strength not weakness. We survived the 2008 financial crisis in the world because we are not intertwined with the global economy. IMF lackeys like Hafeez Shaikh and Raza Baqir will take the first flight out once this Idiotic PTI govt goes. We need to trust our people. Let black money come back , no questions asked and only this can jump start our economy otherwise be prepared for more inflation, unemployment and flight of capital

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