Receiving prize bonds money
IF one is lucky enough to win a prize in a prize bonds draw one may perhaps not know that one has to take trouble of going to the State Bank of Pakistan to claim the prize if it exceeds Rs10,000.
I do not understand why one must go to the SBP if he/she wins a prize which exceeds Rs10,000. The SBP has field offices (branches) only in 16 cities. What should a winner do if he/she lives in Kasur? The winner must go to Lahore to claim the prize because the SBP does not have field office/branch in Kasur. I am sure many residents of several small cities like Kasur are prize bonds holders and the winners of prizes exceeding Rs10,000 must be facing inconvenience by going to big cites to claim their prizes.
I would like to point out that even if you have the SBP in your city of residence, it is a lot of a trouble to go the SBP in big cities like Lahore or Karachi given the distance and traffic in these big cities.
When this rule was made many years ago cities were small and traffic was bearable, while Rs10,000 was considered a large amount.
Things have changed a lot now and we are living in the 21st century. We must also amend the old rules. In this regard, I would like to request the authorities concerned to review this rule and make necessary amendment/arrangement to enable the winners of prizes up to at least Rs500,000 to claim prizes in areas of residence from authorised local bank branches as well as offices of National Savings Centre throughout Pakistan. This will save a majority of prize-bond winners from the inconvenience of going to the SBP to claim prize money.
EJAZ AHMAD MAGOON