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1 Billion Set Aside for the Establishment of Bank of Balochistan

The government of Balochistan has set aside Rs1 billion from its own finances to construct the Bank of Balochistan, stating that the new financial institution will provide employment for a large number of unemployed educated youth.

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In order to increase economic activity, the province government has began the process of engaging a company to provide advisory services for the formation of a bank in Balochistan.

A Balochistan government official told APP on Friday that the initiative’s goal was to offer financial incentives to firms, which would eventually boost economic growth and increase employment opportunities in the province.

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“Its activities would control commercial and Islamic banking under one wing under the supervision of the State Bank,” he said, adding that the facility would be established as a commercial, investment, and development bank.

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