Pakistan to launch Digital Prize Bonds with a Rs 4million prize

Web DeskAugust 10, 2023
Pakistan to launch Digital Prize Bonds with a Rs 4million prize

The Pakistani government has unveiled plans to introduce Digital Prize Bonds, starting with a Rs1,000 denomination in the initial phase. Subsequent phases will see the introduction of denominations of 500, 1,000, 5,000, and 10,000. These digital bonds, valued at Rs1,000, will offer a substantial prize amount of Rs4 million and will be issued in the form of scripless bonds.

To streamline the process and reduce paperwork, National Savings will be responsible for issuing these digital prize bonds. Buyers can access these bonds through the “Digital Prize Bond Gateway,” an online platform accessible via a dedicated application. The draws for the Digital Prize Bonds are scheduled to occur quarterly, as determined by the Finance Division. National Savings will release the draw schedule at the beginning of each calendar year, and the results will be officially published in the Gazette.

Read more : Tristan Tate desired a reversal of the injustices occurring in Pakistan

This initiative represents a significant step toward modernizing the prize bond system in Pakistan, making it more convenient and efficient for participants while promoting digital adoption in financial services.

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