Posted by : Admin | 22/10/2021

Prize Bonds were launched in Pakistan:

Keep reading this blog to learn more about the initiation of Prize Bonds in Pakistan. We will provide the details on the evolution of Prize Bonds in Pakistan. Moreover, we will cover its historical perspective too.

The Central Directorate of National Savings Pakistan (CDNSP) manages the prize bond program from October 1960 onwards. A Rs 10 prize bond was the first prize bond issued in Pakistan. Under the Ministry of Finance, this organization collaborates with the Government of Pakistan.

The inauguration of this program was led by Gen. K.M. Sheikh, a Minister at the time. Also, he was the first person to purchase a Pakistani Prize Bond.

Previously issued Prize Bond denominations:

In the past, Prize bonds were available in the following denominations:

  • Rs 5 prize bond.
  • Rs 11 prize bond.
  • Rs 50 prize bond.
  • Rs 100 prize bond.
  • Rs 500 prize bond.
  • Rs 1,000 prize bond.
  • Rs 5,000 prize bond.
  • Rs 10,000 prize bond.
  • Rs 25,000 prize bond.

Each bond denomination is drawn every three months. The first bond denomination draw was held in 1961. This trend has continued.

Today, you can choose from a variety of denominations:

There were several denominations available in the past, but the government of Pakistan has consolidated them down to seven (07). The denominations that are available nowadays are as follows:

  • Rs 100 prize bond.
  • Rs 200 prize bond.
  • Rs 750 prize bond.
  • Rs 1,500 prize bond.
  • Rs 7,500 prize bond.
  • Rs 15,000 prize bond.
  • Rs 40,000 premium bond.

Background of the Prize Bond Scheme:

On 15 January 1944, the Prize Bond scheme was launched in the Sub-continent. Following the separation, this scheme was still in force in Pakistan.

Utilization of Prize bonds:

When you buy prize bonds, you're betting on the possibility of winning money one day. The money you win from these prize bond winnings can be used to upgrade your lifestyle.

National Prize Bond Scheme Launched:

We've attempted to tell you every detail about the prize bond initiation in Pakistan. In this post, you will find out the date & the author of the prize bond initiation, as well as a description of the previous & current denomination.

 

 

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