PRIZE BONDS OF PAKISTAN

 

Prize Bond, as the name suggests, are Bonds issued by a Government, which do not promise any interest, but award a prize, determined by a draw held at fixed date or regular intervals. Prize Bonds are investment and are bearer type of security available in different denominations.

The First Prize Bonds in the sub-continent were issued on sale in denominations of Rs. 10 and Rs. 100, by the undivided Indian Government on 15th January, 1944 and could be cashed on any date after 15th January, 1949. These were called “Five Year interest-free Bonds 1949”.

After the partition of sub-continent, 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 & 25000 denomination Prize Bonds were issued.

The draw of each Prize Bond was held every three months, with the first draw held in January 1961. The traditional drum was used initially for the draw, but imported machines similar to slot machines were later used. The draws were supervised by draw committees, with the chairman being a senior Government officer, and members from the state Bank of Pakistan and CDNS.

Rs. 200, 750, 1500, 7500, 15000, 25000 & 40000 denomination Bonds are currently in circulation.

 

FIVE-RUPEE PRIZE BOND
The smallest denomination of 5-Rupee Prize Bond was first issued in 1964 with blue border.
SECURITY FEATURE: Words "GOVERNMENT OF PAKISTAN" on watermark
SIZE: 140mm X 95mm
PRINTER: Pakistan Security Printing Corporation

TEN-RUPEES PRIZE BOND
10-Rupee Prize Bond was first issued in 1960 with green border
SECURITY FEATURE: Green and pink dots (planchest)
SIZE: 160mm X 108mm
PRINTER: Pakistan Security Printing Corporation

FORTY THOUSAND-RUPEE PRIZE BOND
The highest denomination prize bond of Rs. 40,000 was issued in 1999 with brown & yellow border
SECURITY FEATURE: Government of Pakistan Coat of Arms on watermark and window-type 1.2mm silver colour security thread with microprint words "GOVERNMENT OF PAKISTAN"
SIZE: 184mm X 95mm
PRINTER: Pakistan Security Printing Corporation

 

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