The State Bank of Pakistan has instructed commercial banks to extend their working hours on Fridays and Saturdays to aid tax collection efforts.
The State Bank of Pakistan (SBP) has issued a directive to all commercial banks, urging them to observe extended working hours on Friday and Saturday in order to facilitate taxpayers. This decision was made following a request from the central bank itself, aimed at ensuring smoother tax collection processes during these specific days. By extending their operational hours, banks will be better equipped to handle increased transaction volumes related to tax payments.
The SBP's move underscores its commitment to enhancing financial services and making it more convenient for individuals and businesses to comply with their tax obligations. The central bank has emphasized the importance of maintaining uninterrupted availability of online payment channels alongside extended physical branch hours. This dual approach ensures that taxpayers have multiple options for fulfilling their financial responsibilities, whether through traditional banking methods or digital platforms.
The decision to extend working hours on these particular days reflects a strategic effort by the SBP to align with tax collection deadlines and peak periods when taxpayers are most likely to engage in payment activities. By providing extended service availability, banks can help reduce congestion at branches and improve overall customer satisfaction during this critical period.
