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SBP notifies extended working hours on Saturday and Sunday

April 28, 2023 at 8:30 am | Economic Affairs

April, 27(E. A Report) —State Bank of Pakistan (SBP) asked banks to keep all of their authorised branches open on April 29 and 30, (Saturday and Sunday) to observe extended working hours in facilitating taxes collection.
In a Wednesday notification, SBP informed all banks of decision to stay open on Federal Board of Revenue (FBR)request.
SBP notification says all branches of banks including authorised branches of National Bank of Pakistan (NBP) and field offices of SBP Banking Services Corporation (SBP-BSC) shall remain open on April 29 and 30 in order to facilitate the taxpayers in payment of Government duties and taxes.
Notification further says such branches would also observe extended working hours till 06:00 p.m. to facilitate the collection of taxes through ADC’s Over-the-Counter (OTC) facility, it added.
For ensuring the same day clearing and settlement of payment instruments deposited at NBP’s authorised branches for customs collection the SBP directed National Institutional Facilitation Technologies (NIFT) to arrange special clearings at 01:00 p.m. on Saturday, April 29 and at 06:00 p.m. on Sunday, April 30 as well.
The central bank instructed all banks to keep their clearing-related branches open accordingly till such time that would be necessary to facilitate the special clearings by NIFT on April 29 and 30.

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