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Saturday March 02, 2024

SBP announces bank holiday on February 5

Banks across country to remain closed on Feb 5 as nation will observe Kashmir Day to commemorate plight of Kashmiris in IIOJK

By Business Desk
January 31, 2024
An undated image of the State Bank of Pakistan building. — Online/File
An undated image of the State Bank of Pakistan building. — Online/File

The State Bank of Pakistan (SBP) on Wednesday announced a bank holiday on February 5 (Monday), in line with the government's notification of a national holiday on this day to express solidarity with Kashmiris in the Indian Illegally Occupied Jammu and Kashmir (IIOJK).

As per a notification issued by the central bank, the banks across the country will remain closed on February 5.

"The State Bank of Pakistan will remain closed on 5th February, 2024 (Monday) being a public holiday on the occasion of 'Kashmir Day' as declared by the Government of Pakistan," a statement read.

Pakistan observes Kashmir Day every year on February 5 to commemorate the plight and sacrifices of Kashmiris in the occupied territory.

The federal government last week announced February 5 as a national holiday throughout the country, with the Cabinet Division's decision to observe a one-minute silence at 10am on this day.

Earlier today, Sindh government also issued a notification for the observance of Kashmir Day.

The nation conveys a message of solidarity and support to the people of the Indian-occupied valley.

The Kashmir issue remains a flash point between Pakistan and India, with Islamabad constantly urging the world to hold a plebiscite on the disputed territory.

The conflict prompted global outrage after Indian Prime Minister Narendra Modi's unilateral decision to revoke Article 370 of the Indian Constitution that granted special status to the IIOJK on August 5, 2019.

Pakistan has also maintained that ties with the nuclear neighbour would not normalise until Kashmir’s special status is restored.