Banks to remain closed on May 1

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KARACHI: The State Bank of Pakistan (SBP) and all commercial banks will remain closed for public dealing on May 1 — Labour Day, according to the central bank.

Taking to Twitter, the central bank said: “#SBP will remain closed on May 1, 2023 on the occasion of #LabourDay.”

Besides all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will also remain closed for public dealing on the aforementioned date.

The world celebrates Labour Day— also known as May Day — every year on May 1 to express solidarity with the labourers and honour the rights of the working class.

The purpose of celebrating this day is to initiate steps for providing job protection to labourers and industrial workers against any exploitation.

Earlier today, the Sindh government announced May 1 as a public holiday on account of Labour Day.