Finance Ministry okays customized Prize Bond scheme

BusinessFinance Ministry okays customized Prize Bond scheme

ISLAMABAD, Pakistan: The Finance Ministry has accorded approval to the customized Registered Prize Bonds scheme of the National Savings of Pakistan to generate more funds and ensure further security.

The scheme will offer its customers, cash prizes by normal draw, besides, profit on a quarterly basis, Radio Pakistan reported.

Elaborating further details on the plan an official of National Savings informed that these bonds will be registered on the name of the purchasers and no other will be able to claim them. This, he said, will further enhance the security of bonds in case of theft or lost.

The policies for other saving schemes like Pensioner’s Benefit Account and Bahbood Savings Certificates have also been revised and now these are fixed at 10.56% to facilitate customers, the official said.

The purchaser’s details (name and contact information) will be recorded and kept on a special file with the National Savings, allowing the organization to pay the bond’s coupon payment to the appropriate person (purchases or owner).

Source: APP

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