KARACHI: The State Bank of Pakistan (SBP) has announced a special banking schedule for the upcoming fiscal year-end, aimed at facilitating the efficient collection of government duties and taxes as the financial year 2024-25 concludes. Issued today in close coordination with the Federal Board of Revenue (FBR), the directive outlines extended banking hours and optimized clearing operations to support taxpayers.
Extended Banking Hours for Fiscal Year-End Collection
To ensure all tax payments are processed smoothly and on time, the SBP has instructed all commercial banks and the Customs collection branches of the National Bank of Pakistan (NBP) to observe a special schedule on Saturday, June 28, and Monday, June 30, 2025.
Saturday, June 28, 2025: Designated bank branches will remain open from 9:00 AM to 1:00 PM. National Institutional Facilitation Technologies (NIFT) will conduct a special clearing session for instruments related solely to government receipts, with collections from bank counters at 3:00 PM and clearing fate communicated by 5:00 PM. Other instruments collected on this day will be cleared through the standard schedule on Monday, June 30.
Monday, June 30, 2025: In a rare extension of operational hours, all commercial banks and SBP Banking Services Corporation (BSC) offices will operate from 9:00 AM to 10:00 PM. NIFT will collect government-related instruments at 12:00 AM (midnight) for a special clearing on July 1, ensuring that the value date for these transactions remains June 30. Similarly, NBP’s Customs branches will operate until 11:59 PM, with NIFT collecting instruments from them at 1:00 AM on July 1, also for the June 30 value date.
Real-Time Settlements and Digital Accessibility
To facilitate real-time transactions, the SBP has mandated that 1Link must ensure the efficient clearing of transactions conducted through Alternate Delivery Channels (ADCs), which include internet banking, mobile apps, and ATMs. The ADC batch settlement time for June 28 is scheduled for 8:00 PM. For June 30, all ADC transactions completed up to 11:59 PM will be settled by 2:00 AM on July 1.
The SBP has also emphasized that all designated NBP branches handling manual tax collections must reconcile their receipts with their respective SBP-BSC offices according to the official schedule. Furthermore, the SBP’s core banking system will recognize June 28 as a full working day for settlement purposes, ensuring all transactions are accounted for within the current fiscal year.
A critical directive from the SBP mandates that all banks must guarantee 24/7 availability of their online services, including internet banking, mobile applications, and ATMs, throughout this special period. The central bank warned against any unprocessed instruments related to government receipts lodged during the extended hours, underscoring its commitment to a seamless year-end tax collection process.
This proactive measure by the SBP, coordinated with the FBR, aims to prevent last-minute bottlenecks, enhance convenience for taxpayers, and ensure fiscal discipline as the nation concludes its financial year.
