I WOULD like to draw the attention of the government and the authorities of the State Bank of Pakistan to the increase in tax rate deduction on prize bonds.

There are millions of people across the country who are interested in investing their money in prize bonds

During the previous fiscal year 2016-17 the government enhanced tax deduction from 15pcto 20pc on winning the prize bond amount but the amount of money won still stands intact though it was likely to increase.

There are various prize bonds such as 100 (student prize bond), 200, 750, 7500, 1500, 15,000, 25,000 and 40,000, but the amount won is yet to increase despite the increase in the taxation rate.

I suggest that the government should take a decision to immediately increase the amount won by a prize bond so that more and more people could be attracted to invest in prize bonds.

Nasiruddin Bangash

Haripur

Published in Dawn, July 30th, 2017