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Tag: Eid ul Fitr

  • FPCCI demands only three Eid holidays

    FPCCI demands only three Eid holidays

    KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday demanded the government of reducing Eid holidays to three to avoid business and economic losses.

    The apex trade body expressed displeasure over yet another set of SOPs and Public Holidays on account of Eid-Ul-Fitr announced by NCOC without consulting business, industrial, and trade community of Pakistan. 

    Mian Nasser Hyatt Maggo, President FPCCI, has demanded that industries and markets should only be closed for 3 days on account of Eid-Ul-Fitr; otherwise, there will be irreversible loss to already struggling businesses and huge shortfall in tax collection will further decelerate the economic activity.

     Mian Nasser Hyatt Maggo maintained that ports, customs, and required banking services for them should not even be closed for 3 days during Eid-Ul-Fitr; as exports are as necessary for survival of Pakistan as airports and hospitals. Even a single day closure of ports during Eid will add to existing huge glut and backlog for exporters and cause financial and goodwill loss for not being able to ship the consignments on agreed schedules. He demanded that ports timings should be extended to 05:00 PM with immediate effect.  

    Mian Nasser Hyatt Maggo, also expressed his shock over proposed Eid Holidays from 10-15 May, where ports, customs, and banks will remain closed and shipping lines will keep operating.

    This is utterly illogical as without ports, customs, and banks, there will be no use of shipping lines operating.

  • Prolong Eid holidays to adversely affect exports: APTMA

    Prolong Eid holidays to adversely affect exports: APTMA

    KARACHI: All Pakistan Textile Mills Association (APTMA) has strongly reacted to the announcement of the government regarding Eid Holidays and stated the prolong closure may adversely affect economic activities.

    The Patron in Chief APTMA, Gohar Ejaz has rejected the decision of the Government for Eid ul Fitr holidays from 10th to 16th May 2021. While expressing his concerns, stated that this will bring the whole country practically shut down for 10 days from Saturday, 8th May to Monday 17th May 2021.

    Shutting down the country for 10 consecutive days is unacceptable as it would create a lot of glitches for the economy, industries, particularly the exporters who will not be able to dispatch their shipments abroad due to the complete closure of banks, ports, customs, and all other departments during excessive holidays. 

    He warned that we cannot afford such extended holidays as they will result in giving losses of up to billions of rupees to the national exchequer and terribly affect business activities particularly the exports.

    Simultaneously, it will badly affect and deprive the daily wage earners of the country of their desperately needed earnings for continuous 10 days. Workers will find it impossible to feed their families creating a social disaster.

    He particularly highlighted the Textile Industry that despite the issues and hardship, committed to double the exports.

    Textile manufacturers have orders in hand and are working day and night to dispatch shipments according to the agreed schedule.

    This decision will end up in the cancellation of orders which will not only result in losses to manufacturers but also to the country.

    Keeping in view the social overall business climate and economic crises being faced by the country, Gohar Ejaz requested the Government to review the decision of Eid ul Fitr holidays from 10th to 16th May 2021.

    The holidays should only be from 13th to 16th May 2021. The government should not shut down production and transportation for 10 days as the country simply cannot sustain such production and export loss.

  • Banks to open selected branches on May 27

    Banks to open selected branches on May 27

    KARACHI: Banks likely to open selected branches on Wednesday, May 27, 2020 to facilitate their customers in wake of long holidays for Eid ul Fitr.

    It is pertinent to mention that the government announced six holidays for Eid-ul-Fitr from May 22 – 27, 2020 (Friday – Wednesday).

    Tomorrow i.e. Wednesday May 27, 2020 is the last day of ongoing holidays. Due to closure of financial institutions for the long period, people are facing cash problems for their day to day transactions.

    The State Bank of Pakistan (SBP) on May 20, 2020 already granted approval for banks for opening of selected branches on May 27, 2020.

    The SBP said: “In order to ensure the availability of limited banking services to public at large during the extended holidays on the occasion of Eid‐ul‐Fitr, it has been decided that banks / MFBs may open their selected branches on Wednesday, May 27, 2020 at their own discretion in various business centers / commercial hubs etc. across Pakistan.

    “However, it may be noted that RTGS System and Clearing through NIFT will not be available on the above‐mentioned date.

    “Accordingly, NIFT will collect Financial Instruments from branches on Thursday, May 28, 2020 for clearing purposes.

    “For this purpose, banks / MFBs should ensure the deployment of minimal number of staff necessary to carry out smooth working at their selected branches on the above date.”

  • Eid ul Fitr Mubarak 2

    Eid ul Fitr Mubarak 2

    As the holy month of Ramadan draws to a close, PkRevenue.com extends heartfelt Eid-ul-Fitr greetings to its esteemed readers and followers. In the spirit of joyous celebration and communal harmony, the online platform takes this opportunity to convey warm wishes for a blessed and prosperous Eid-ul-Fitr.

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  • Bank holidays for Eid-ul-Fitr announced

    Bank holidays for Eid-ul-Fitr announced

    KARACHI: Banks shall remain closed during May 22 – 27, 2020 (Friday to Wednesday) on the occasion of Eid ul Fitr.

    In an official note on Wednesday issued by State Bank of Pakistan (SBP) said that the central bank will remain closed from 22nd to 27th May, 2020 (Friday to Wednesday) on the occasion of Eid-ul-Fitr.

  • SBP decides not to issue fresh currency notes for Eid ul Fitr

    SBP decides not to issue fresh currency notes for Eid ul Fitr

    KARACHI: State Bank of Pakistan (SBP) on Monday said that it will not issue fresh currency notes on this Eid ul Fitr.

    The decision has been taken due to measures taken by the government to prevent spread of COVID-19.

    The SBP issued a notification suspending the issuance of fresh currency notes to public.

    The SBP said that the bank’s management had taken multiple precautionary measures to ensure social distancing and mitigate the spread of COVID-19.

    “These include but are not limited to performing of only essential / critical functions, making comprehensive work from home arrangements, ensuring workplace SOPs, issuance of medical advisories, etc.”

    Accordingly, the bank’s COVID-19 committee had decided not to issue fresh notes to general public and employees / ex-employees of SBP and its subsidiaries on occasion of Eid-ul-Fitr 2020.

  • Eid-ul-Fitr Mubarak

    Eid-ul-Fitr Mubarak

    PkRevenue.com wishes Happy Eid-ul-Fitr Mubarak to all valuable readers and followers.

  • SBP issues Rs360 billion worth fresh currency notes on Eid-ul-Fitr

    SBP issues Rs360 billion worth fresh currency notes on Eid-ul-Fitr

    KARACHI: The State Bank of Pakistan (SBP) has issued Rs360 billion worth fresh currency notes on the occasion of Eid-ul-Fitr, said a statement on Monday.

    The SBP said that through 16 field offices of its subsidiary SBP-Banking Services Corporation (SBP-BSC), provided fresh banknotes of various denominations aggregating to Rs360 billion, including Rs61 billion of Rs100 and below denominations, via cash counters of banks and SMS service (8877) to general public during Ramazan.

    Out of Rs61 billion, Rs54 billion were issued through the SMS service which was available in 142 cities through more than 1,700 commercial bank branches and 16 field offices of SBP BSC.

    The service catered to more than 3 million people before Eid-ul-Fitr.

    State Bank has also issued a sufficient quantity of fresh notes of higher denominations to banks for smooth ATM operations during the Eid Holidays.

    In this regard, special teams of SBP and SBP BSC officials shall inspect and monitor the working of ATMs across Pakistan to ensure uninterrupted availability of cash to the general public during the Eid holidays.


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  • Bank holidays for Eid-ul-Fitr

    Bank holidays for Eid-ul-Fitr

    The State Bank of Pakistan (SBP) announced on Wednesday that banks will be closed from June 4 to 7, 2019, in observance of Eid-ul-Fitr. This extended holiday period will allow employees and customers to celebrate the festive occasion without interruption.

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  • SBP facilitates three million people with fresh currency notes on Eid-ul-Fitr

    SBP facilitates three million people with fresh currency notes on Eid-ul-Fitr

    The State Bank of Pakistan (SBP) has successfully facilitated three million customers in obtaining fresh currency notes for Eid-ul-Fitr through its e-branches of commercial banks, according to a statement released on Wednesday.

    (more…)