The media reports have revealed that the federal government is going to launch prize bonds of Rs. 100,000 denomination by next month.
The reports claim that the yet to launch prize bond will offer a 12.5 percent profit per annum to the investors. Furthermore a few media reports claim that the bonds will be registered against the name of the investors. This was being done to document the economy.
As of now, the federal government has received six billion rupees in Rs. 40,000 bonds as an investment.
Earlier we informed our readers that Rs 40,000 denomination national prize bonds have been discontinued by the federal government. They were discontinued last Friday on 15th February. State Bank of Pakistan (SBP) clearly stated that denomination bonds will not be issued anymore.
The federal government gave directions to the Central Directorate of National Savings (CDNS) after which State Bank of Pakistan instructed its officials to stop Rs 40,000 bonds printing.
Now its interesting to know that government is planning to launch
Rs. 100,000 denomination prize bonds from next month. The concerns of watchdogs all over the world that these bonds are used for whitening the black money might be raised.