Tax on prize bonds

Through your highly esteemed daily I would like to draw the kind attention of Government and State Bank authorities towards the increase of tax rate deduction on prize bonds. It is a known fact that there are millions of people across the country who are keen to invest their money in prize bonds comprising of middle and upper classes to become rich over-night.
During the previous fiscal year 2016-17 the Government enhanced tax deduction from 15 % to 20% on prize bond win amount but the amount of win still stands intact which was likely to be increased owing to natural phenomena. There are various domains of prize bonds i.e. Rs.200, 750, 7500, 1500, 15000, 25000 & 40000 but their win amount yet to be increased after the increase of afore-mentioned taxation rate.
I suggest that the Government should take a sage decision to immediately increase prize bond win amount so that more and more people could be attracted in investment of prize bonds to accrue the government exchequer for more and more revenue.
NASIR UDDIN BANGASH
Haripur KP

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