Due to a severe smog situation causing an "environmental and health emergency", the State Bank of Pakistan (SBP) has mandated a complete closure of all banks and Microfinance Banks (MFBs) on November 10 in Lahore Division, District Gujranwala, District Hafizabad, District Sialkot and District Narowal. This announcement was made today, Wednesday, following similar measures taken by the Punjab government.
The SBP's decision comes in response to the health concerns raised by residents, such as Lahore resident Mohammad Salahuddin. The increasing pollution from factories, construction activities, and vehicles due to South Asia's industrial growth tends to worsen during colder months due to temperature inversion. An August report suggested that this pollution could reduce life expectancy by over five years per person in South Asia.
On Tuesday, the Punjab caretaker government imposed a health emergency from November 9 to 12 across the Lahore Division and two other divisions. This has resulted in a four-day closure of all markets, malls, restaurants, cinemas, gyms, schools, offices and even MFBs.
In addition to the bank closures, a shutdown of all public and private sectors in Lahore, Gujranwala, Hafizabad, Sialkot and Narowal districts will be enforced from November 9 to 12. Movement restrictions via public and private transport have also been put into effect.
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