Prize Bond Rs15000 and Rs7500 Issues Faced by Investors in Exchange

7500 and 15000 Prize Bonds Exchange Issues Faced by Investors Sudden notification was issued by Govt to discontinue RS.7500 and Rs15000 bonds with immediate effect.

Now No further Lucky draw of these bonds will be held in the future.

Investors are facing many issues in Bond Rs15000 and Rs7500 Exchange.

Prize Bond 7500 draw was quite near at 03 May 2021 but Govt did not care for this draw and issued a notification to discontinue this Prize Bond with immediate effect.

It’s not fair to discontinue the bond quite near to its draw as people were holding these bonds for the last three months and hence it was their right to participate in the lucky draw.

As per the Schedule of Prize Bonds Lucky draw in 2021, Prize Bond Rs15000 and Rs7500 all draw was supposed to be held but this was not made sure by the Govt.

So all the investors of Prize Rs15000 and Rs7500 are requesting at least a lucky draw of 2021 must be held.

3rd issue is related to the issuance of Premium Prize Rs15000 and Rs7500 which yet have not been issued.

Earlier when RS25000 and Rs40,000 were registered then Premium Prize bonds were also issued and an option was given to the general public to exchange with Premium Prize Bonds but this time in case of Prize Bond Rs15000 and Rs7500 no Premium Prize Bonds of the same denomination have been issued yet.

Many investors don’t have a bank account which is a mandatory requirement to encash bearer bonds of Prize Rs15000 and Rs7500.

Now the investors have two options. First, they can open a new account and deposit their bonds for collection and 2nd is to deposit these bonds in any acquaintance bank account and then get money from them.

It was better to remove this bank account restriction and people who don’t have their accounts could easily exchange their Prize Bond Rs15000 and Rs7500.

If investors exchange their Prize Rs15000 and Rs7500 with Premium bonds of Rs25000 and Rs40,000 then these premium bonds will not be included in the next lucky draw to be held on 10th June 2021 as its a shut period for them.

This is another issue to be faced by the investors of Prize Bond Rs15000 and Rs7500 as there is no draw to be held for their bonds and nor even Premium bonds if purchased will be included in the next lucky draw.

Overseas will also face difficulty as they are abroad and can’t come in this current situation as flights are not flying due to Covid-19 and they cant exchange their bonds timely.

The last date to exchange Prize Bond Rs15000 and Rs7500 is 30 June 2021 and 31 Dec 2021 respectively.

Due to the current corona situation prevailing in the current, when people will go to branches to exchange their bonds then the crowd will be increased in the branches which can instigate the spread of Coronavirus.

Also Read: SBP Increased Policy Rate by 150 Base Points

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