The government has launched first ever registered premium prize bond worth Rs 40,000 with prize of Rs 80 million on draw and monthly profit The profit will be given after every six months. The bonds will be available for individuals, public and private institutions while banks can not purchase these bonds. Finance Minister (FM) Senator Ishaq Dar inaugurated the bond in a ceremony held here in state bank on Friday Addressing the bond launching ceremony Dar said bond will leave positive impact on national economy and it will afford a better chance to investors to bring improvement in their financial position. won investment of 40,000 in premium bond, Rs 80 million prize will be given on draw besides providing monthly profit. The registration of this bond has been started from Friday and everyone and company will be eligible to purchase these premier bonds except banks, he added. The buyer of the bond will be provided a printed receipt on purchase of this bond, he added. No time frame has been set for making investment through this bond, he pointed out.. Bonds are being launched in developed countries since long, he said adding this has left positive impact on their economies. Pakistan is striving to make its economy stable and vibrant. The world experts and credible institutions are seeing Pakistan to be among 20 bigger economies of the world till 2030 , therefore, government is taking serious measures to capture the attention of foreign investors, stabilized the economy, curb tax evasion and for improving living standard of people in line with manifesto of Prime Minister Mian Muhammad Nawaz Sharif. Launching of premium bond worth Rs 40,000 is a step of paramount significance. We will have to raise saving ratio beyond 20 percent to become emerging economy in real sense, he urged. It will be available for individuals, public and private institutions except banks, insurance companies and mutual funds. The premium prize bond can be obtained through State Bank branches in Islamabad, Lahore, Karachi, Peshawar and Quetta..He noted that international professionals believe Pakistan will be among top 20 countries in 2030 due to its fast growth in economy.World credible institutions recognized Pakistan economy, he added. Dar further highlighted that Pakistan�s growth rate is 7 to 8 percent. He said a bond of one hundred thousand rupees will also be launched soon
All about of Prizebond
Prize Bonds are bearer type of security available in the denominations of Rs.100, Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000, Rs.25,000 and Rs.40,000. These bonds are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the number of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 250 winners of 2nd Prize and so on. The number and amount of prizes on various denomination of prize bonds for each series is shown in the following nex page..
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