Government of Pakistan, through Ministry of Finance, has issued a directive for discontinuation for Rs. 7,500 bond with immediate effect.
Notification issued late today, and available with ProPakistani, said that circulation of Rs. 7,500 prize bond will be seized immediately, and no one would be authorized to handle or trade the prize bond with denomination value of Rs. 7,500, starting immediately.
Rs. 7,500 bond holders are given following three options to convert their bonds:
- Convert to higher denomination bonds of Rs. 25,000 or Rs. 40,000
- Replace with Special Saving Certificates
- or encash the bonds.
It must be noted that for those who want to convert their Rs. 7,500 bonds with higher denomination bonds can do so through six commercial banks, namely:
- NBP
- HBL
- UBL
- MCB Bank
- ABL
Courtesy: Pro Pakistani