KARACHI: National Institutional Facilitation Technology (NIFT) will provide a special clearing facility on the advice of the State Bank of Pakistan (SBP) on Saturday (March 31), to facilitate the collection of government duties and taxes,
The Central Bank has advised all the commercial banks to keep their branches concerned open on the day till the required special clearing for the government transactions, a State Bank of Pakistan press release said on Thursday.
The NIFT is a joint venture between a consortium of six major banks and the private sector. It is responsible for the establishment and management of automated clearing house facilities in Pakistan. The NIFT is actively involved in the modernization of payment.
