Karachi, March 27, 2025 – The State Bank of Pakistan (SBP) has instructed all commercial banks to extend their working hours on March 29, 2025, to facilitate taxpayers in making duty and tax payments efficiently.
In an official communication addressed to the presidents and chief executives of all banks, the SBP emphasized the need to support taxpayers by ensuring smooth processing of government duties and taxes through Alternate Delivery Channels (ADC) and Over-the-Counter facilities. As part of this initiative, all commercial banks that remain open on Saturdays will observe extended banking hours on March 29, 2025.
According to the SBP directive, the banking hours on March 29, 2025, shall be from 9:00 AM to 5:00 PM. During this period, all instruments related to government receipts and payments presented at banks’ counters will be collected by NIFT at 5:00 PM through a special clearing arrangement exclusively for tax collection. The National Institutional Facilitation Technologies (NIFT) will provide the clearing fate of such instruments by 8:30 PM on the same day.
The SBP further emphasized that to prevent any backlog of tax receipts, banks must ensure that no instrument concerning government receipts and payments lodged during the extended office hours remains unattended at branch counters. All such instruments must be included in the special clearing process, ensuring their value date remains March 29, 2025.
Additionally, the SBP has directed banks to maintain 24/7 availability of their digital banking services, including internet banking, mobile applications, and ATMs, to facilitate taxpayers in making online payments of government duties and taxes. Banks are also advised to ensure that their online payment infrastructure remains fully operational without any disruptions.
Moreover, the SBP instructed banks to keep their designated branches open on March 29, 2025, until the completion of the special clearing process for government transactions by NIFT. This move is aimed at enhancing taxpayer convenience and ensuring the seamless collection of government revenues.
A day earlier, the SBP issued a notification confirming that the decision to extend banking hours was made following a request from the Federal Board of Revenue (FBR). This initiative underscores the SBP’s commitment to facilitating smooth tax collection processes and supporting government revenue operations.