The State Bank of Pakistan and all the banks will remain closed on Wednesday (May 01) on the occasion of Labour Day.

“State Bank of Pakistan will remain closed on May 1, 2024 (Wednesday) being a public holiday on the occasion of Labour Day, as declared by the Government of Pakistan,” the central bank said in a statement issued here on Monday.

All the banks, microfinance banks and development finance institutions will also observe the holiday on May 1.

The Sindh government has also announced a public holiday on May 1.

Labour Day is observed all over the world on May 1 in memory of the Chicago workers who were killed by police while striking for an eight-hour workday in 1886.

There are as many as eleven public holidays this year, according to the circular issued by the government on December 12, 2023. There are three bank holidays, but not for the employees. And the list of optional holidays goes to 22.