The Ministry of Finance has reportedly proposed the discontinuation of bonds worth Rs. 7,500, Rs.15,000, and Rs. 25,000.
The State Bank of Pakistan (SBP) has already declared the issuance of Rs. 40,000 bearer prize bonds to be discontinued from SBP Banking Services Corporation (BSC) offices as well as commercial banks and National Saving Centres effective 14th February 2019.
The reason behind this move is that registered one is more secured and are not prone to illegal usage for criminal offenses including theft and forgery as compared to the bearer ones.
Now, the Finance Division has proposed that the National Bonds of Rs. 7,500, Rs.15,000, and Rs. 25,000 from SBP Banking Services Corporation (BSC) offices, as well as commercial banks and National Saving Centres, be discontinued with immediate effect.
The ECC considered the proposals submitted by the Finance Division regarding National Prize Bonds. The fate of these bonds is yet to be decided.
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