Islamabad, In an effort to facilitate taxpayers during the end of the year, the State Bank of Pakistan has announced that banks with Saturday operations will extend their working hours for the collection of government duties, taxes, and receipts on December 30 and 31, 2023.

According to State Bank of Pakistan, banks that are open on Saturday will operate until 5:00 pm on December 30, 2023, and until 8:00 pm on December 31, 2023. This extension is specifically for the collection of taxes through Alternate Delivery Channels and Over-the-Counter facilities. In addition, the National Institutional Facilitation Technologies (NIFT) has been directed to arrange special clearings at 3:00 pm on December 30 and at 5:00 pm on December 31 to ensure same-day clearing and settlement of payment instruments.

The State Bank of Pakistan emphasizes that banks must ensure no government receipt instruments lodged during these extended hours remain unattended at branch counters. All such instruments must be included in the special clearings with a value date of December 31, 2023. Furthermore, banks are advised to keep relevant branches open as long as necessary on these dates to facilitate the special clearings for government transactions by NIFT.

This initiative is part of the State Bank of Pakistan’s ongoing efforts to enhance taxpayer convenience and streamline government receipt processes at year-end.