PRIZE BONDS:
People use and try fresh and new ways to earn profit and become rich earlier with easy and rapid ways. They invest their money in distinct businesses and different schemes, which is not very sure of giving profit. Here then people started to purchase lottery tickets, which were not very reliable there was no surety of winning and in case of no victory the person losses his money spent on purchasing of lottery. However, constantly people were interested in investing their money in lottery. Therefore, then government put the scheme of prize bond in front of general public. Prize bonds are same as lottery tickets but the main difference is in case of no-win government promises to buy back the bonds at its original price. Alternatively, you can simply say Pakistan's bonds is a kind of lottery ticket with a money-back guarantee. It is a bearer type of security investment, which is based on non interest.
HISTORY:
Bonds are authorized and laid under 1956 acts of finance (miscellaneous provisions). The similar concepts of premium bonds were introduced in Pakistan. At the same time, a Saving Bond was introduced in the year of 1956. In 1957, next first lottery was sold in March The primary prize bond result's draw was held in September 1957. At that time, there were just six wining numbers, and Bonds were consisted on six digits single... after that the rule got changed, and further it was started to sell with seven digits in each bond. The first and only operator of this scheme was banked of Ireland, In 1993 regulation was made for the conduct of the draws weekly using a computer-driven random number generator to determine winning saving numbers.
CLAIMING:
The prize on any prize-winning bond can be claimed within six years reckoned from the date of the prize draw result, no request will be accepted if the time period of claiming is exceeded from six years, six years is the dead line after the Pakistan bond draw. To claim your prize Pakistan you have to fill up a form, Attach a photocopy of your national identity card, Photocopy of your winning saving bond duly signed by the officer. In Pakistan, the prize money at time of claiming is subjected to holding tax of 10 percent. Unusual countries have different tax's schemes.
WELFARE OF PRIZE BONDS IN PAKISTAN:
Prize bond of denomination of Pakistani rupees 100 is announced from national savings bank of Pakistan named as student welfare bonds this prize bond Pakistan is specially announced for students because to make them earn and win from their little savings and prepare them mentally to invest further than is why the denomination is kept at the very small rate of rupees 100 to make it easier for students to invest in lottery. It would not only reduce dependency of government on external borrowing from foreign but would also help students meeting theirs expenses incurred in their studies. Indirectly, it will moreover, increase literacy rate of Pakistan. The lowest amount to be wins is rupees 1,000 as the third prize of student welfare bond of Pakistani rupees 100 only. Business men usually purchase large lottery of worth rupees 40000 because as more purchasing amounts as more winning amount of increases. The first prize at winning numbers of rupees 40000 is 75000000. These types of bonds are mostly operated by people having large investments and savings.
DENOMINATIONS OF prize bond IN PAKISTAN:
In Pakistan's saving bonds are offered on the denominations of park rupees 200, 750, 1500,
7500, 15000 and 40000. and from February 2013 new prize bond is announced for rupees 100. which is specially offered for students and people with small savings, that is why it is named as student welfare prize bond.
Bond numbers of rupees 100, 200, 750, 1500 are mostly operated by general public of middle class. And the lottery of rupees 7500, 15000 and 40000 are operated by upper-middle-class people or business men or people having large savings.
People use and try fresh and new ways to earn profit and become rich earlier with easy and rapid ways. They invest their money in distinct businesses and different schemes, which is not very sure of giving profit. Here then people started to purchase lottery tickets, which were not very reliable there was no surety of winning and in case of no victory the person losses his money spent on purchasing of lottery. However, constantly people were interested in investing their money in lottery. Therefore, then government put the scheme of prize bond in front of general public. Prize bonds are same as lottery tickets but the main difference is in case of no-win government promises to buy back the bonds at its original price. Alternatively, you can simply say Pakistan's bonds is a kind of lottery ticket with a money-back guarantee. It is a bearer type of security investment, which is based on non interest.
HISTORY:
Bonds are authorized and laid under 1956 acts of finance (miscellaneous provisions). The similar concepts of premium bonds were introduced in Pakistan. At the same time, a Saving Bond was introduced in the year of 1956. In 1957, next first lottery was sold in March The primary prize bond result's draw was held in September 1957. At that time, there were just six wining numbers, and Bonds were consisted on six digits single... after that the rule got changed, and further it was started to sell with seven digits in each bond. The first and only operator of this scheme was banked of Ireland, In 1993 regulation was made for the conduct of the draws weekly using a computer-driven random number generator to determine winning saving numbers.
CLAIMING:
The prize on any prize-winning bond can be claimed within six years reckoned from the date of the prize draw result, no request will be accepted if the time period of claiming is exceeded from six years, six years is the dead line after the Pakistan bond draw. To claim your prize Pakistan you have to fill up a form, Attach a photocopy of your national identity card, Photocopy of your winning saving bond duly signed by the officer. In Pakistan, the prize money at time of claiming is subjected to holding tax of 10 percent. Unusual countries have different tax's schemes.
WELFARE OF PRIZE BONDS IN PAKISTAN:
Prize bond of denomination of Pakistani rupees 100 is announced from national savings bank of Pakistan named as student welfare bonds this prize bond Pakistan is specially announced for students because to make them earn and win from their little savings and prepare them mentally to invest further than is why the denomination is kept at the very small rate of rupees 100 to make it easier for students to invest in lottery. It would not only reduce dependency of government on external borrowing from foreign but would also help students meeting theirs expenses incurred in their studies. Indirectly, it will moreover, increase literacy rate of Pakistan. The lowest amount to be wins is rupees 1,000 as the third prize of student welfare bond of Pakistani rupees 100 only. Business men usually purchase large lottery of worth rupees 40000 because as more purchasing amounts as more winning amount of increases. The first prize at winning numbers of rupees 40000 is 75000000. These types of bonds are mostly operated by people having large investments and savings.
DENOMINATIONS OF prize bond IN PAKISTAN:
In Pakistan's saving bonds are offered on the denominations of park rupees 200, 750, 1500,
7500, 15000 and 40000. and from February 2013 new prize bond is announced for rupees 100. which is specially offered for students and people with small savings, that is why it is named as student welfare prize bond.
Bond numbers of rupees 100, 200, 750, 1500 are mostly operated by general public of middle class. And the lottery of rupees 7500, 15000 and 40000 are operated by upper-middle-class people or business men or people having large savings.