KARACHI, April 28, 2026 – Pakistan’s central bank said on Tuesday that all commercial banks and financial institutions will remain closed on Friday, May 1, in observance of Labour Day, a public holiday marked across the country.
In a circular issued to bank presidents and chief executives, the State Bank of Pakistan said it would observe the holiday along with all banks, development finance institutions (DFIs), and microfinance banks (MFBs), in line with the government’s official notification.
Separately, the Pakistan Stock Exchange announced that trading will also remain suspended on May 1, declaring it a non-trading day due to the nationwide holiday.
Labour Day, also known as International Workers’ Day, is observed annually on May 1 to honor the contributions of workers and the labor movement. In Pakistan, the day is recognized as a public holiday, with government offices, financial institutions, and many private businesses remaining closed.
The origins of Labour Day trace back to the late 19th century, particularly the Haymarket Affair in the United States, where workers rallied for an eight-hour workday. The event became a symbol of workers’ rights worldwide and laid the foundation for the global observance of May Day.
Across the world, Labour Day is marked by rallies, demonstrations, and events organized by trade unions and labor rights groups. In Pakistan, the day typically features seminars and gatherings highlighting workers’ welfare, rights, and challenges, though large-scale public events may vary each year.
The closure of banks and the stock exchange is expected to temporarily pause financial activity, with normal operations resuming on the next working day.