Prize Bonds: Lottery type Investment Scheme with Principal Amount Retained

Prize Bonds is gold investment and are bearer type of security available in the denominations of Rs.200, Rs.750, Rs.1,500, Rs.7,500, Rs.15,000 and Rs.40,000. These bonds are issued in series. Each series consist of one less than 1,000,000 bonds. No fixed return is paid but prize draws are held on quarterly basis. The draws are held under common draw method and the numbers of prizes are same for each series. It means that if 50 series of Rs.200 Prize Bond are in circulation. Then on each draw we have 50 winners of 1st prize and 150 winners of 2nd Prize and so on.
Prize Bond’s Scheme is the only lawful source for poor and middle class people investment opportunities to become rich overnight and making their dreams come true Prize bond offers investment options and it is far better than Forex investment but this scheme has been ignored awfully, Recently, profit rates on five saving schemes namely Defense Saving Schemes – DSS, Regular Income Certificates – RIC, Behbood Saving Certificates – BSC, Savings Accounts – SA and Special Saving Certificates – SSC have been increased by 8 to 50 basis points but Prize Bond Scheme was not given consideration at all. Tragically, the increase of profit rates on these mentioned schemes will not lessen dues burden of Rs. 150 billion or more on account of Defense Saving Certificates maturing in the near future. Prize Bonds’ Scheme is the only rescuer in this regard, provided and they are like baby formula. The following suggestions are duly implemented.

Our family (Late Father’s) has been investing in prize bonds for last thirty years when there were 5, 10 and 11 rupees prize bonds. I was a little boy at that time. My father won two big prizes but I never won any big prize. We hardly win few prizes and paid taxes on it. We are invigorating Pakistani government by our prize bonds investment but government never encouraged us. After all it is our own obsession since government did not force us to purchase prize bonds. Noble people say that prayers have great efficacy however these prayers have not been proving effective for more than 20 years despite a large numbers of prayers. You can also consider it a test for the effectiveness of prayers.

People double their money in business in few years. So, government should care about its investors. I request Pakistani government to eliminate 10 percent tax on the national prize bonds prizes. We hardly win few prizes and pay comparatively high tax amount on it. From my services I do not get money for children education in good institutions, costly medicines and any tourism at all. One other important consideration is security of prize bonds. It can be snatched. Government can provide token numbers for the purpose of security.