The government of Pakistan launched first ever registered Premium Prize Bond which costs 40,000.
Finance Minister for State, Mr. Ishaq Dar inaugurated bond at the ceremony in Islamabad, earlier unregistered bond was available of Rs. 25,000 and Rs. 40,000 in the market.
The Minister while inaugurating said that Pakistan is treading on the path of progress at a fast pace. He also mentioned the Rs. 80 million is the first prize for a premium bond of Rs. 40,000 whereas after six months the profit on the bond will also be paid to holders.
The Minister also said that a printed receipt will be given to the buyer of bond and there was no limit and period of the investment, adding every person, except banks and could buy the bonds.
Furthermore, Minister said that the bond of one hundred thousand will also be launched soon.
Ishaq Dar said bonds will be available for individuals as well as public and private companies however banks cannot buy it.
How will Winner receive Money?
Instead of announcing the name in the newspaper the money will be directly transferred to the account of the winner.
What is coming next?
He said a bond of one hundred thousand rupees will also be launched soon.
Ishaq Dar said with comprehensive reforms in economy, the government is fulfilling its promises to the people.
He said the country’s economic progress is being internationally acclaimed and all economic indicators are showing an upward trend. International economic experts see Pakistan among the top twenty economies of the world by 2030.
He said Pakistan will soon sign bilateral treaty with Switzerland for Bank Information Sharing to detect tax evaders.