CDNS set to introduce new prize bonds of Rs25,000

By
fraaz
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20
255

The Central Directorate of National Savings (CDNS) is all set to launch new prize bonds of Rs25,000 denomination, in addition to the existing six denominations of Rs200, Rs750, Rs1500, Rs7500, Rs15000 and Rs40,000, sources in the finance division told Profit on Friday.
The decision will not only plug the huge gap between the existing Rs15,000 denomination bonds and Rs40,000 denomination bonds and make the prize bond scheme more attractive and diversified in terms of various denominations but also attract additional investment of approximately Rs20 billion (gross) for the CDNS. Against the face value of Rs25 billion for a series of 999,999 pieces, there may be additional investment of approximately Rs20 billion (gross) while the net inflow would be around Rs5 billion, the CDNS estimates. CDNS is of the view that in view of the decision of the ECC regarding discontinuation of all kind of institutional investment in National Saving Schemes, it has become imperative that new avenues of saving be explored to boost the investment in saving schemes to accomplish the ever-rising investment target. Further, it will create a new avenue of investment to meet the target fixed for the next financial year especially in view of expected shortfall as a result of discontinuation of all institutional investment.
According to the CDNS proposal, the draw for the new prize bonds of Rs25,000 denomination will be held on the 15th day of March, June, September and December every year. The first prize for the Rs25,000 denomination bond will be Rs50 million. There will be three prizes of Rs15 million each and 1696 prizes of Rs312,000 each, said the CDNS notification of draft amendment in Prize Bonds Rules, 1999 for introduction of new prize bonds of Rs25,000 denomination.
According to the sources in the finance division, CDNS had sought approval of the finance division for launching the new prize bonds of Rs25,000 denomination. Before the formal approval, the finance division had asked CDNS to furnish whether the proposal will not involve the diversion of investment from the existing denominations of bonds to the proposed one. The finance division also asked the CDNS to submit the complete proposal in consultation with SBP which primarily manages floatation, arrangement of draws and maintenance of the stock of prize bonds both in circulation and unsold.

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20 COMMENTS

  1. It is a good scheme. The amount Rs. 25000 is very suitable for middle class. A good step.

    • 25,000 rupees prize bond is suitable for middle class?
      Pakistan Middle class unable to pay electricity bills due to high tariff rates… how can we (middle class) can invest for 25,000 prize bond for Sweepstakes?

  2. At present draws for Rs. 200 prizebonds are being held on the same dates, dates announced for Rs. 25000 draws. whether there will be two draws at a time, on same date i.e. for 200 and 25000 prizebonds.

  3. This is a good scheme for the upper class peoples because they can afford the 25000 prize bonds but the middle class can't afford it. By the way that is good scheme by the Pakistan Government.

  4. Very good scheme as the gap between rs.15,000 and 40,000/- was to big. Good for middle class familites to get a chance of saving and winning.

    Qamar Khan
    Saudi Arabia

  5. In my openion Govt. must stop/cancel the bond of Rs.200/- & 750/- as now a days no value of such a amount even for a lower class people. Instead they should start from Rs.1000/- bond,

  7. n someone clarify if any one hass ever won prizes of millions? OR only the connected people win these amounts

  10. the draw process is doubtfull, as no one of us has ever won the prize. only selected person are fixed in computer to get the prize. Good scheme, if it is fair and clear.

  11. bond of rs 25000 ,its good i guess surely its first prize will be of 5crore still i d not k now other prizes

  12. I requested to all authority to please stop first 1 and second 2 prize, only third 3 prize 1700(35000) for stop of parci system akra system.thanks

  14. mery pas 25000 ka prize bond hai bank sy replace krwany giya hon to unhon ny kaha ke ye bond khtm ho gy hain 2005 sy

  16. Whenever,you introduced the new bonds you announced or add some new things in your policy of bonds,this time will you please announce,one more year increase to collectig the cash prize.

  17. PLZ MUJHE INFORMATION CHAHYE
    MERE PAS 2 BOND 1500 WALE AISE HAIN JO 2009 ME LAGE AUR INAAM B NAH MILA JAB K US K FRONT PE STAMP STATE BANK KI 2010 KI HAI PEHLE TO BATAEN K JO FRONT PE STAMP WITH DATE HOTI IS KA KIA MATLB HAI AND KIA IN 2 BONDS K INAM MUJHE MIL SAKTE KIA

    • bhai jaan apko ye prize nahi mil sakta kyunke Bond 2009 mein laga aur bond apka issue 2010 mein howa hai isliye ye apko nahi mil sakta..

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