ISLAMABAD – State Bank of Pakistan has revealed that investment in premiumprize bonds saw a sharp increase of 29%.
Investment in premium prize bonds of Rs. 40,000 denomination increased toRs. 5.96 billion by the end of February 2019, as compared with Rs. 4.62billion in the same month of the last year after the government stoppedissuing the unregistered instrument to stop the expansion of the blackeconomy.
Previously in February, the federal government had decided to discontinueRs. 40,000 denomination national prize bonds by February 15th, 2019, whichwere to fill the gap that had long been used by people to whiten theirblack money.
Investment in the unregistered Rs. 40,000 bonds was at Rs. 259.2 billion byFebruary 2019, as compared with Rs. 225 billion in the same month a yearago.
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SBP’s data shows that total investment into unregistered/undocumented prizebonds had increased to Rs. 939.12 billion by February 2019, as comparedwith Rs. 803.52 billion in the same month a year ago.
SBP also advised the Central Directorate of National Savings (CDNS) to stopprinting unregistered Rs. 40,000 prize bonds.
