The State Bank of Pakistan (SBP) has made an important announcement regarding prize bonds.
According to the statement released by the cenral bank, the last date for returning the prize bonds worth Rs7500, Rs15000, RS25000 and RS40,000 is December 31, 2024.
The bank added that prize bonds can be returned or exchanged from State Bank, Banking Services Corporation and commercial banks.
According to the central bank, after 31 December 2024, the application for redemption of prize bonds will not be accepted.
Earlier, the Senate Standing Committee on Finance has presented a proposal to withdraw the Rs5,000 currency note to combat corruption and inflation in the country
Senator Aziz said that the Federal Board of Revenue (FBR) is using the high-denomination note to support the cash economy.
