In Pakistan, National Prize Bond Scheme was started in 1960 to borrow money from people and reward them with cash prizes based on lucky draws. This system helps the Government of Pakistan borrow billions of rupees from the public, but the investors don't earn much in return. Let's find out more.
What is a Prize Bond?
It is a type of lottery bond. The National Savings Pakistan offers them. This is a sort of bearer investment that gives no profit or premium. You can get these bonds in different denominations.
In Pakistan, you can find them in many denominations that range between 100 and 40,000. For more information, you can check a prize bond list.
The Prize Bond Schedule
The lucky draws are held every 15 days, usually on 1st business day of a month. Aside from this, each lucky denomination draw is organized quarterly.
Claiming the Prize
If you want to claim the prize money, you have to fill in the form and submit it with your valid CNIC, the original prize bond signed by you, and the photocopy of the prize bond signed by you.
The Maximum Prize
The highest prize money is 80,000,000 rupees on the 40,000 rupees Premium prize bond. The second-largest prize money is 75,000,000 rupees, which is offered against a regular 40,000 rupees bond. And these draws are organized quarterly.
Who Can Buy these Bonds?
Whether you live inside or outside Pakistan, you can purchase these bonds from any registered dealer or scheduled bank.
You can't buy these bonds online. You can buy them at a local bank, State Bank Offices, or National Savings.
Although there are a lot of guess papers online, they are of no use. There is no formula to find out which bond will be the winning one. It all depends upon your luck as the system is lottery-based.
Once you have purchased a bond, it will remain valid as long as the scheme is valid. In other words, there is no age limit or expiry date of these bonds.
Claiming the Prize
Once the draw has been held, you have a period of 6 years to claim your prize.
Tax on the Amount won
For non-filers, the tax ratio is 25% of the winning amount, and for filers, the ratio is 15%.
You can visit State Bank offices, National Savings, or a local bank to buy prize bonds in Pakistan.
Refund or Exchange
College students need textbooks to help them learn and earn an academic degree. However, on top of tuition, room and board and meals, why are textbooks so expensive? Textbooks cover many areas of knowledge. They are prepared specifically with a lot of information that include many original pictures, special charts, and specific data. Textbooks are extremely useful to students for learning and profitable for the companies that publish them. While textbooks can be a financial burden on the student, they can be profitable for a book scouter.
A book scouter is an opportunist who buys cheap used books at thrift stores or book sales, and sells them for more money, particularly on Amazon. Brand new textbooks are the most coveted of books for scouters since they typically cost over $100. Of course, used textbooks don't cost as much. But when the scouter goes to a thrift store, such as the Salvation Army, Goodwill, and book sales at libraries, textbooks can cost as little as several dollars. Among all types of books, a seller can "flip" - buying a book and selling it for more money, textbooks generally lead to great deals on Amazon. So, buying used textbooks that are new is one of the most profitable books that sellers can buy. To sell textbooks on Amazon, some rules need to be applied for maximizing profits. If you buy ones that are relatively new, Amazon might be selling the same edition and condition for roughly $10 to $150.
Collect new ones that are still in relatively good condition, specifically those that have kept their glossy, clean covers. Plus, there should be as few underlined or highlighted marks or writing on the inside. Buy brand new or those that are one to three years old.
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The closer the seller lives to a major university, the better luck he or she will have of finding more textbooks at local thrift shops.
Search thrift stores for high school textbooks in your area. High schools replace textbooks much less often than colleges or universities. Therefore, they carry their value better.
Unfortunately, many college textbook editions change every year, which eliminates the student's chance to use last year's edition. So, they will have to pay more money for brand new textbooks. The sad reality is that very few changes are generally made between editions.
Book scouters search for textbooks as well as other categories of books available at local thrift stores or garage sales. Textbooks that are new or relatively new are marked down to just a few dollars. Then they can be sold on Amazon for potentially high profits. Amazon buys new textbooks for a lot more money than most other types of books. If you want to try scouting textbooks to make a profit, buy their newest editions or the ones preceding them. Buy it in the best condition possible. If you live in a town or city where there is a university, you have a better chance of finding good textbooks. Don't just buy college textbooks; try searching for high school textbooks, as well.
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