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Banks to Open Saturday for Tax and Duty Payments

Gravatar Avatar Web Desk | 7 months ago
Banks to Open Saturday

ISLAMABAD – The State Bank of Pakistan (SBP) has announced that all commercial banks will operate on Saturday, November 29, 2025. This includes branches of the National Bank of Pakistan (NBP) handling customs duties. These branches will remain open for extended hours, from 9:00 am to 5:00 pm, to facilitate over-the-counter (OTC) payments of government taxes and duties.

The move aims to assist taxpayers in making timely payments for government services. The SBP’s directive ensures that all commercial bank branches will be available to collect payments, including those for customs duties. NBP-designated branches, which handle government receipts, will also follow the extended operating hours.

To ensure smooth processing, the NBP branches collecting government payments will settle their transactions the same day. After completing the day’s clearing cycle, these branches must settle the payments with the respective SBP-BSC field offices or head offices. This is part of the effort to expedite payments and clearances on the same day.

Furthermore, the National Institutional Facilitation Technologies (NIFT) will assist with the clearing process. All instruments related to government receipts and payments, presented at bank counters, will be collected by NIFT through special clearing at 5:30 pm. NIFT will also provide the clearing status of these instruments by 11:30 pm on the same day.

This initiative is designed to make the payment process more efficient and convenient for the public. It ensures that all government transactions are completed without delays, benefiting both taxpayers and government authorities.

READ MORE : SBP Keeps Interest Rate Unchanged at 11%

The State Bank of Pakistan (SBP) has decided to keep the interest rate unchanged at 11% on Monday. This decision comes in light of the current inflation levels and the recent floods in the country. The central bank’s Monetary Policy Committee, led by Governor Jameel Ahmad, reviewed both domestic and global economic conditions before making this decision.

The SBP explained that the inflation trends, along with the economic impact of the recent floods, were major factors in their decision. Experts had anticipated that the central bank would maintain the interest rate at 11%, given the current inflationary pressures and the overall economic situation. The committee believes that reducing the interest rate at this time would not be prudent.

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