FAQ’s

PART F: THE BASICS OF PRIZE BONDS (27)

The number of draws held each year includes:

Four draws for each of the following denomination:

  • 200
  • 750
  • 1,500
  • 7,500
  • 15,000
  • 40,000

A total of 24 denominations are held every year.

With the approval of Government of Pakistan, Pakistan Security Printing Corporation or PSPC is responsible for printing all the prize bonds in Pakistan.

 

The basic objective behind issuance of prize bonds in Pakistan is to encourage investment in public. It is also used as a source for borrowing funds for the government.

The forged, mutilated or tampered prize bonds aren’t eligible for payment.

Before November 2000, each denomination series used to have separate draw. However, the practice is not continued anymore & each draw is held separately under Single Common Draw System.

Various Sharia scholars have different opinions regarding prize bonds.

Prize lists available anywhere except regulated websites are not genuine.

No. It is a bearer instrument, apart from the premium bonds which are registered instruments.

Prize bonds are made available illegally on higher prices on premium during shut period. SBP BSC offices do not have anything to do with those sales.

No brokers are authorized to deal in sale or purchase of any bonds.

Pakistan Security Printing Corporation is responsible for printing currency notes and government securities.

Central Directorate of National Savings manages all government savings for the benefit of public.

Public Debt Office issues securities to increase debts by Public Debt Act.

Although there is no difference between Karachi and Lahore circles, the Lahore PDO offers payment against Karachi PDO after confirmation

The authorized banks can only offer encashment for prize bonds of up to Rs. 1,250. If the amount exceeds, the process will be done at SBP BSC.

 

Prize bonds are made available illegally on higher prices on premium during shut period. SBP BSC offices do not have anything to do with those sales.

 

No brokers are authorized to deal in sale or purchase of any bonds.

Pakistan Security Printing Corporation is responsible for printing currency notes and government securities.

Central Directorate of National Savings manages all government savings for the benefit of public.

Public Debt Office issues securities to increase debts by Public Debt Act.

Although there is no difference between Karachi and Lahore circles, the Lahore PDO offers payment against Karachi PDO after confirmation

You can only sell re-issuable bonds at any center of any circle.

Draw no, date and place of draw is present on the schedule of draws.

There are a total of six denominations of National Prize Bonds in circulation.

Series is followed in issuance of Fresh Prize Bonds.

Prize Bonds are also widely used as collateral against loans.

The Prize bonds are backed by Public Debt Act, 1944.

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