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SBP announces bank holiday on May 1 World celebrates Labour Day every year on May 1 to express solidarity with labourers The State Bank of Pakistan (SBP) has announced a bank holiday on May 1, 2024 (Wednesday) on account of Labour Day. A brief notification issued by the central bank stated that May 1 has been notified as public holiday by the government of Pakistan. “The State Bank of Pakistan will remain closed on May 01, 2025 (Thursday) being a public holiday on the occasion of Labour Day, as declared by the Government of Pakistan,” read the notification.
Besides all banks, development finance institutions (DFIs), and microfinance banks (MFBs) will also remain closed for public dealings on the aforementioned date. Meanwhile, educational institutions, including schools, colleges, and universities, would also remain closed in observance of the holiday. 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 day also celebrates the work and achievements of labourers across the globe. The purpose of celebrating this day is to initiate steps for providing job protection to labourers and industrial workers against any exploitation. KP projects receive $108m in extra World Bank funding Pakistan’s $1.
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