SBP announces five-day holiday on Eidul Fitr

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The State Bank of Pakistan (SBP) announced a five-day holiday in observance of Eidul Fitr.

The State Bank of Pakistan will be closed for Eidul Fitr from April 21 through April 25, 2023 (Friday through Tuesday), according to a statement from the national bank. This occurs at the same time when the federal government announces Eid holidays.

The Pakistan Stock Exchange (PSX) has previously also declared a market shutdown from April 21 to April 25.

“All TRE Certificate Holders, staff, and concerned are hereby informed that PSX shall remain closed from Friday, April 21, 2023, through Tuesday, April 25, 2023, in observance of Eid-ul-Fitr holidays,” the PSX stated in a statement on Monday.

A five-day vacation was also announced by the federal government last week, on the proposal of the Cabinet Division.

According to Khalid Ijaz Mufti, secretary general of the Ruet-e-Hilal Research Council, Eid would likely be observed on April 22 following the conclusion of the holy month of Ramadan’s 30 days.