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The State Bank of Pakistan (SBP) on Monday said it will remain closed on Tuesday, May 28, following a government announcement to mark the day as a public holiday on the occasion of Youm-e-Takbeer.

“SBP will remain closed on May 28, 2024 being public holiday on the occasion of “Youm-e-Takbeer” as declared by the Government of Pakistan,” the central bank’s statement read.

The Pakistan Stock Exchange Limited (PSX) also announced that it will remain closed on Tuesday on account of the public holiday announced by the federal government.

The development comes after Prime Minister Shehbaz Sharif declared a public holiday on May 28 (Tuesday) to mark Youm-e-Takbeer.

Youm-e-Takbeer is considered a red-letter day in Pakistan’s history, which ensured invincible defence capabilities and regional stability through power equilibrium.

With five successful nuclear tests on May 28, 1998, Pakistan became the seventh nuclear-armed country in the world and the first in the Islamic world, reinforcing its writ in the region and restoring the balance of power.

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