Pakistan to launch prize bond of Rs 100,000 denomination

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1902

By Muhammad Luqman
After successful roll-out of Rs 40,000 Prize bond, Pakistan has decided to launch premium bond of Rs 100,000 denomination to encourage savings in the South Asian country.
Pakistan’s National Saving Organization entrusted with the issuance of the saving instruments , has currently prize bonds of Rs 100, Rs 200, Rs 750, Rs 1500, Rs 7500, Rs 15,000, Rs 25,000 and Rs. 40,000 denominations.
Pakistan first issued the interest-free “National Prize Bonds” of Rs. 10 in October 1960, managed by the ‘Central Directorate of National Savings’ (CDNS). The Prize Bonds were launched by the then Minister, Gen. K.M. Shaikh, and the first Bond was also purchased by him. Later Rs. 5, 11, 50, 100, 500, 1000, 5000, 10000 and 25000 denomination Prize Bonds were issued.
Over the last six decades, as the officials claim, National Savings has emerged as a formidable vehicle for financial inclusion with introduction of popular welfare oriented products and registering a large number of customers of which more than 50% were women.

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