The sale of 25,000 new prize bonds has been banned immediately. The bonds can be converted into special savings or defense savings certificates.
According to the statement of SBP, after May 31, 2021, the prize bond worth Rs 25,000 will be considered unusable.
Moreover, the prize on Rs. 25,000 bonds will be transferred directly to the holders’ account instead of doling it out in cash.
The SBP had also discontinued the fresh issuance of the Rs. 40,000 prize bonds in February 2019.