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The Value of Prize Bonds

English Essay on "The Value of Prize Bonds"

Prize Bonds in Pakistan are of immense value. They cultivate the habit of saving money besides giving us an opportunity to win a prize in the game of chance. These chances of winning the prize come in quick succession. Therefore, those who don't win in one drawing wait impatiently for the next. There is an immense joy and suspense to see the lucky number in the newspapers after drawings are held.

These prize bonds were introduced in our country long time back in order to allure the people on to saving. In the beginning the bonds of the value of ten rupees• each were introduced. But afterwards in view of their increasing popularity five-rupee prize-bonds were also introduced to enable the people of low-income group to purchase them •easily. At present, prize bond of higher values have been issued like Rs. 200, Rs. 750, Rs. 1500, Rs. 75,00 and Rs. 40,000/-.

Now the situation is very encouraging. Our government has been successful indeed in their purpose. Hundred of thousand of the prize bonds have been sold and in this way billions of rupees have been invested by the public. This has fulfilled its three fold purpose. Firstly, this investment shall check the growing inflationary tendency in our country. As is the case with the developing countries various projects are being taken up one after the other. In some cases aid and loans are secured from certain foreign countries. This is likely to cause inflation. Introduction of prize bonds is a very successful attempt which has gone a long way to check unhealthy trends of inflation. Secondly, this money can be very helpful to the Government in executing their plans. It will be a sort of indirect contribution of the people towards the progress of our country. Thirdly, it will enable the people not only to form but also to enjoy the habit of saving money.

The drawings are held every month round the year. For example the drawings of two hundred-rupees bonds are held in the middle of January April, July, and October every year whereas those of Rs. 750/-bonds are held in the middle of March, June, September and December every year. The drawings are conducted in a very systematic way by a very senior official. The public can witness the drawings without any restriction or reservation. The method is so simple and scientific that there is absolutely no likelihood of injustice, partiality and dishonesty.' That is why the public take keen interest and the bonds are purchased with growing enthusiasm and full faith and the drawings are awaited and witnessed with a lot of hope and excitement.

As regards the prizes they are highly attractive. The prizes range from twenty thousand rupees to one hundred rupees in each series. There are a large number of hundred rupees prizes whereas the number of prizes of higher value is limited.

The people wait for the drawings with mixed feelings of joy, hope, excitement and impatience. The day dawns and brings felicitous messages of goodwill to the prizewinners. The drawings are held at various important Divisional Headquarters of Pakistan.(9essay.com) The results are announced there and then and the numbers of prizes of higher value are broadcast. The next day the people rush to see the lucky numbers in the newspapers. One can't imagine the rapture and thrill of the prize-winners. But those who don't win need not be disappointed. They should hopefully wait for the next drawing.

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