Business Desk 
Mar 28, 2024
The State Bank of Pakistan (SBP) on Thursday announced that banks will remain open Saturday and Sunday (March 30-31) in order to facilitate the taxpayers in payment of government duties/taxes.
“To facilitate the taxpayers in payment of government duties/taxes, it has been decided that branches of all banks that are open on Saturday shall observe extended banking hours till 4:00pm on Saturday (March 30) and Sunday (March 31) for collection of taxes through Alternate Delivery Channels (ADC’s) Over-the-Counter facilities,” the statement released by the central bank read.
The SBP further mentioned that to further ensure same day clearing/settlement of payment instruments, National Institutional Facilitation Technology (NIFT) has been advised to arrange special clearings at 4:00pm on Saturday and Sunday.
“To eliminate the issue of spillover of tax receipts, banks shall ensure that no instrument concerning government receipts, lodged during the aforementioned office hours, remain unattended at branch counters and must be lodged in the aforesaid special clearing in the value date of March 31,” it said.
Moreover, banks are advised to keep their concerned branches open on March 30-31 till such time that is necessary to facilitate the special clearings for government transactions by the NIFT.
