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Saturday, November 16, 2024

Home Business Banks to remain open on Saturday, Sunday for tax collection

Banks to remain open on Saturday, Sunday for tax collection

by News desk
December 30, 2023
in Business

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The State Bank of Pakistan on Friday directed all banks to keep their branches open on Saturday and Sunday for collection of taxes, duties and other government receipts.

“The branches of all banks that are open on Saturday shall observe extended working hours till 5:00 p.m. Saturday, December 30, 2023 and till 8:00 p.m. on Sunday, December 31, 2023 for collection of taxes through alternate delivery channels and over-the-counter facilities,” an SBP press release said.

The central bank also advised NIFT to arrange special clearings at 3:00 p.m. on Saturday and at 5:00 p.m. on Sunday to ensure same day clearing and settlement of payment instruments.