Opening of concerned branches to facilitate the collection of Government Receipts /duties/ taxes
Karachi, December 28, 2020 (PPI-OT): In order to facilitate the collection of the government receipts/ duties/ taxes, it has been decided that the field offices of SBP Banking Services Corporation (SBP BSC) and authorized branches of National Bank of Pakistan (NBP) will observe extended banking hours till 9:00 P.M. on December 31, 2020 (Thursday), for which purpose a special clearing has been arranged at 6:00 P.M.
On the same day by the NIFT. All banks are, therefore, advised to keep their concerned branches open on December 31, 2020 (Thursday) till such time that is necessary to facilitate the special clearing for Government transactions by the NIFT.
Banks to observe extended working hours on Dec 31
Published On 28 December,2020 08:28 pm
All banks have therefore been advised to keep their concerned branches open on December 31, 2020
ISLAMABAD (Dunya News) – The field offices of SBP Banking Services Corporation (SBP BSC) and authorized branches of National Bank of Pakistan (NBP) will observe extended banking hours till 9:00pm on December 31, 2020, in order to facilitate the collection of the government receipts/ duties/ taxes.
For this purpose, a special clearing has been arranged at 6:00 P.M. on the same day by the NIFT.
All banks have therefore been advised to keep their concerned branches open on December 31, 2020 (Thursday) till such time that is necessary to facilitate the special clearing for Government transactions by the NIFT.
Fiscal prudence and prize bonds - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
Government discontinues Rs25,000 prize bonds
Business
December 11, 2020
ISLAMABAD: The government on Thursday discontinued prize bonds with Rs25,000 denomination and set a six-month deadline for investors to redeem or encash the popular investment instrument, in a second phase of documenting multibillion rupees worth of bond market.
National prize bonds of Rs25,000 denomination will not be sold with immediate effect and will not be encashed / redeemed after 31st May, 2021, according to a finance ministry’s decision.
Although cash payment for encashments of cited bonds is not allowed, bondholders can convert Rs25,000 denomination premium prize bonds (registered) through the 16 field offices of SBP Banking Services Corporation, and branches of six authorised commercial banks, including National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.
Govt discontinues Rs25,000 bonds
Gives six-month deadline to investors to encash or convert their savings
Pakistanis have invested over Rs739 billion in all types of prize bonds and 22% of the total investment is in Rs25,000 denomi-nation bonds. PHOTO: FILE
ISLAMABAD:
The federal government has discontinued bearer prize bonds of Rs25,000 denomination and has given a six-month deadline to investors to encash or convert their savings of Rs164 billion aimed at addressing concerns of the Financial Action Task Force (FATF).
“New National Prize Bonds of Rs25,000 denomination shall not be sold with immediate effect,” read a finance ministry notification of December 9. It added that those owning the banned prize bonds would have until May 31, 2021 to encash, redeem or get their bonds converted.