Business Community has urged the State Bank of Pakistan (SBP) to abolish bank holiday on Saturdays in Ramadan. Ateeq Ur Rehman, a businessman and economic analyst has said the Holy Month of Ramadan started with a holiday as on Thursday banks went off for public for Zakaat deduction. While, on second day ie on Friday banks worked for few hours. In addition again Saturday, Sunday will be usual Bank holidays.
Continued bank holidays are hurting the business activities across the country leaving community without any Banking transaction. "The State Bank of Pakistan should take notice and under such circumstances at least ask the banks to open all their branches on Saturdays", he demanded.
He said in this situation country like us which lags behind in health, education, energy, water and infrastructure and whose trade deficit is so enormous with worsening fiscal and external balances, huge current account deficit and a big circular debt can grow.
"Unlimited bank holidays causing millions of rupees losses to the country's economy and creating problems for traditional exporters", he said and added that SMEs (small & medium enterprises) and retailers are the worst sufferers.