The State Bank of Pakistan (SBP) on Tuesday announced that banks and financial institutions across the country would remain closed for four consecutive days from March 20 to 23 due to Eidul Fitr holidays, the weekly Sunday break and Pakistan Day.

In a statement, the central bank said it would remain closed on March 23, which has been declared a public holiday by the government on the occasion of Pakistan Day.

Earlier, the SBP’s Banking Policy and Regulations Department had notified that the central bank would remain closed on Friday and Saturday on account of Eidul Fitr holidays.

Following the announcement, all commercial banks, development finance institutions and microfinance banks will observe the two-day Eid holiday.

The closure will be followed by the regular weekly holiday on Sunday, while March 23 will also remain a public holiday due to Pakistan Day.

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The federal government on Sunday announced public holidays on the occasion of Eidul Fitr, issuing an official notification declaring March 20 and 21 as holidays across the country.

According to the notification, all government offices will remain closed on Friday and Saturday. The holidays will apply to public institutions operating under both five-day and six-day working weeks.

The Pakistan Space & Upper Atmosphere Research Commission had already predicted that Eidul Fitr was likely to fall on March 21, as the chances of sighting the Shawwal crescent on March 19 were considered very low.

“At the time of sunset on March 19, the age of the new moon would be approximately 12 hours and 41 minutes, with an estimated 28-minute interval between sunset and moonset along Pakistan’s coastal belt,” the statement from SUPARCO had said.

The commission had said the prediction was based on scientific calculations and observations, but had emphasised that the relevant religious authority would make the official announcement.

Also Read: SUPARCO predicts Eidul Fitr likely on March 21

“The final decision regarding the sighting of the Shawwal crescent and the commencement of Eid-ul-Fitr 1447 AH would be made by the Central Ruet-e-Hilal Committee of Pakistan, which is the sole competent authority to announce the beginning of Islamic months on credible witness testimonies and verified observations from across the country,” the statement said.