I visited some banks recently to purchase prize bonds. Most of the banks in my city are located on one long road. I told the cashiers that I need to purchase prize bonds, but to my extreme shock, all the cashiers replied that they do not have any prize bonds available. They said that they purchase prize bonds, but do not have any in stock for sale. This really perturbed me, as all the banks had notices displayed showing that they sell and buy prize bonds. I contacted a friend to get the real picture, and he told me that banks are involved in the illegal trade of prize bonds. The cashiers only purchase prize bonds from the needy people at a lower cost, but don’t sell them back if they are coming out soon. I would like to request the State Bank of Pakistan, National Savings and the Ministry of Finance to look into this matter, and order all private banks to maintain sufficient stocks of prize bonds prior to the draw. Surprise inspections should also be made to the branches on regular intervals and heavy fines be imposed on such illegal actions.


Gujranwala, August 5.