ISLAMABAD: In a recent development, the State Bank of Pakistan (SBP) has announced that it will remain closed on December 25, 2024, to observe Quaid-e-Azam Day and Christmas.
The Government of Pakistan proclaimed this day as a public holiday; thus, the SBP will also be closed on the date. The central bank issued a circular explaining that the closure is because it had also been declared a public holiday by the government.
These announcements were warmed by the fiend itself – the stock exchange closed on that day too, giving adequate rest to the employees.
And not only that, but the SBP has confirmed that the PSX will also close on the same day. Thus no trading will commence on December 25, and business will resume on the following working day.
The PSX had announced this last week well ahead of time, giving investors and traders enough time to plan and make arrangements. The joint closure of the SBP and the PSX on December 25 will thus have some ramifications for the country’s financial sector.
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