• June 14, 2022

Important News: Government decides to close thousands of bank accounts

ISLAMABAD: The federal government has decided to close thousands of inactive government bank accounts.

According to details, the federal government has decided to close thousands of inactive government bank accounts. In this regard, the finance ministry has said that instructions should be issued to commercial banks through the SBP.

The notification said that the federal government is following the cash management and treasury single account policy, under the new policy all government funds are being deposited in single account.

The Ministry of Finance said that it is prohibited to keep funds in Swaxy and accounts of Federal Consolidated Fund, there are thousands of inactive government bank accounts with zero bank balance.

The Ministry of Finance said that it has been decided to close the government bank accounts already opened.

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