What is the procedure of prize bond draws in Pakistan?

Prize bonds provide an opportunity for holders to win significant cash prizes through regular draws held throughout the year

Business Desk - Jul 31, 2024

The emblem of the State Bank of Pakistan during a news conference in Karachi, Pakistan, on Monday, Jan. 23, 2023. — Bloomberg

The Government of Pakistan continues to offer prize bonds as a popular savings instrument, available in denominations of Rs100, 200, 750, 1500, 25000, and 40000. These bonds are sold at designated branches of the State Bank of Pakistan (SBP) and National Savings Centres across the country.

Prize bonds provide an opportunity for holders to win significant cash prizes through regular draws held throughout the year. The bonds are bearer instruments, meaning they do not carry the holder's name, ensuring anonymity. This scheme is a preferred choice for many investors looking for a secure and accessible form of investment with the added excitement of lottery-style winnings.

If you own a prize bond and are concerned about the procedure of prize bond draws in Pakistan then Gadinsider has got you covered.

Procedure of prize bond draws in Pakistan

Prize bond draw is conducted by a committee constituted by the Central Directorate of National Savings (CDNS) and open to general public. Winning prize bonds are drawn through Hand Operated Draw Machine, which is operated by special children in front of committee members and general public attending the draw ceremony. Draw machine is also checked by general public before the start of draw.

Can general public attend prize bond draw ceremony?

It should be noted that general public with original CNICs can attend the prize bond draw ceremony.