State Bank of Pakistan directs 14 authorised banks to keep all their designated branches open from 9am to 2pm
Karachi: All the designated branches of banks would remain open on Saturday and Sunday to receive Hajj applications, the State Bank of Pakistan said on Saturday.
Taking to Twitter, the central bank said, “In order to facilitate the intending pilgrims to deposit application forms along with dues for Hajj 2023, #SBP has directed 14 authorised banks to keep all their designated branches open from 9am to 2pm on Saturday and Sunday,”.
The State Bank of Pakistan gave these directions on the request of the Ministry of Religious Affairs and Interfaith Harmony.
The banks will remain open on Saturday and Sunday from 9 am to 2 pm to collect Hajj applications along with dues from intending pilgrims for this year’s Hajj.
On March 6, the federal government gave approval of increasing the Hajj expenses to Rs1.175 million per pilgrimage – a surge of 68% over the past year.
The government, however, allowed outsourcing the financing of half of the quota to save $444 million amid a severe economic crisis.
Economic Coordination Committee (EEC) of the cabinet made this decision/
According to the Finance Ministry’s handout, the Ministry of Religious Affairs submitted a summary on Hajj Policy 2023.
The total foreign currency requirements for 2023 Hajj were $534 million – a sum that was equal to 14% of the country’s official foreign exchange reserves as of last week.
The ECC, after discussion okayed Hajj-2023 policy and agreed to provide foreign exchange cover of $90 million.