Business

Banks to remain closed on May 1 on account of Labour Day

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Digital Desk

2 years ago

KARACHI: Banks across Pakistan will remain closed on Wednesday (May 1, 2024) on account of Labour Day, the State Bank of Pakistan (SBP) announced on Monday.

A brief notification issued by the central bank stated, “The State Bank of Pakistan will remain closed on May 1, 2024 (Wednesday) being a public holiday on the occasion of Labour Day, as declared by the Government of Pakistan.”

Meanwhile, the Pakistan Stock Exchange (PSX) also announced that it will remain closed on upcoming Wednesday to observe Labour Day.

In a notification on Monday, PSX said, “All concerned are hereby informed that Pakistan Stock Exchange Limited will remain closed on Wednesday, May 1, 2024, being a public holiday declared by the Government of Pakistan on the occasion of Labour Day.”

Every year on May 1, the world celebrates International Labor Day, with a renewed commitment to upholding workers’ rights. Various public and private organizations host conferences, seminars, marches, walks, and webinars to honor the ultimate sacrifices of laborers.

The first labor policy was devised in 1972, in which May 1 was declared an official holiday. For the unversed, World Labour Day is marked to remember the massacre of laborers when ten unarmed demonstrators were shot and killed in the year 1937.

Digital Desk