Prizes on unpurchased bonds

Published Aug 24, 2013 08:48am

All bonds in a series, not the ones actually sold out, compete for prizes. They include un-issued bonds (still in State Bank coffers) and unsold bonds with banks and savings centres.

How could the banks be stakeholders in draws without actually buying any bond? The computer programme should be so redesigned that each draw is confined only to the bonds actually sold out.

It should not be difficult to gather data of bonds actually sold out from the savings centres and banks.

AMJED JAAVED Rawalpindi Cantt


Do you have information you wish to share with Dawn.com? You can email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or narrative to share, or reach out to the Special Projects Desk to send us your Photos, or Videos.

More From This Section

National Savings affairs

THIS refers to poor customer service faced at the directorate of National Savings, where mostly retired people ...

Pakistan Steel

REFERENCE your editorial ‘Shambolic state of Steel Mill’ (Oct 29). Undoubtedly the pathetic state of Pakistan...

K-Electric billing

K-ELECTRIC changed meters in our area last month and this month they sent me a bill of nearly Rs100,000 for...

Comments (1) Closed


Saad(DXB)
Aug 25, 2013 02:36am

It is well known that staff of Banks as well as National Savings Centers encash the unsold bonds for any prizes won, in the names of their friends and family. One of my distant relatives openly used to boast about it.. He used to work for 'Qaumi Bacchat'