SBP extends bank hours for tax and duty payments on May 29–30

The State Bank of Pakistan (SBP) on Monday directed banks to extend their working hours on May 29 and 30, 2026, to facilitate the payment of duties and taxes.

In order to support taxpayers in making over-the-counter (OTC) payments of government duties and taxes, the decision was taken on the request of the Federal Board of Revenue (FBR). Under this arrangement, all commercial bank branches will remain open until 5:30 pm on Friday, May 29, 2026.

Similarly, all commercial bank branches operating on Saturday will remain open from 9:00 am to 5:30 pm on May 30, 2026.

Furthermore, banks have been instructed to keep their relevant branches open until the completion of the special clearing process for government transactions by the National Institutional Facilitation Technologies (NIFT) on May 30, 2026.

SBP-held foreign reserves rise $1.21 billion to $17 billion

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $1.214 billion during the week ending May 15, 2026, reaching $17.081 billion, according to data issued on Thursday. The SBP said the rise was primarily driven by inflows received under the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF), as well as proceeds from Panda Bonds. The central bank also said that external debt repayments were made during the same period. Following the latest increase, Pakistan’s total liquid foreign exchange reserves climbed to $22.588 billion for the week under review. The […]

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