Banks to remain open on weekend to facilitate tax collection

KARACHI: To facilitate the collection of taxes, all authorized bank branches will remain open on April 29 and 30 (Saturday and Sunday) with extended working hours till 6 pm.

The State Bank of Pakistan (SBP) issued a statement stating that bank branches that regularly remain open on Saturdays, including National Bank of Pakistan (NBP) branches and field offices of SBP Banking Services Corporation (SBP-BSC), will remain open on these days upon the Federal Board of Revenue’s (FBR) request.

The SBP also directed the National Institutional Facilitation Technologies (NIFT) to arrange special clearings to ensure same-day clearing and settlement of payment instruments deposited at NBP’s authorized branches for customs collection.

Finance Minister Ishaq Dar has directed the FBR to achieve the country’s true tax potential and extend his support for revenue collection. The FBR Chairman gave a detailed presentation on revenue targets and performance, stating that the FBR would make all-out efforts to meet its revenue target in the remaining months of the current fiscal year.

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