960401

Banks begin their

longest holidays

in Pak history

KARACHI: The banks in the country on Saturday began their longest holiday in banking history of Pakistan. The banks reopen on May 2, 1996 after a six-day holiday, the longest ever banking holiday in the country. Banks did not close for six days even in the election holidays of 1988, 1990 and 1993. The banks also did not close for so long in any other year or festivity or calamity or elections in Pakistan.

Meanwhile, the rush for cash withdrawals reached its peak in bank branches on Thursday, April 26 and more than Rs 3 billion were estimated have been withdrawn for meeting cash needs by clients because of long holidays.

While officially the holidays began with Friday April 27 and end on Thursday next all Government office open, which is May 2, 1996. However, most officials and executives in the banks and even the private sector agree that there was little possibility of much work on May 2, 1996 because almost everbody will be in a holiday mood and after exchanging Eid greetings would go home, doing little work. Thus the acutal holidays will, extend upto May 5, 1996 which is the first working Sunday after the Eid holidays and May day holiday.

In Karachi most of the officials in the provincial and Federal Government offices have gone to their home towns in interior of Sindh or upcountry for the long holidays.-PPI