Balochistan Bank

STATE Bank of Pakistan Governor Ashraf Mahmood Wathra has revealed that the central bank was working on a scheme to establish a provincial bank in Balochistan, along with efforts to increase the presence of commercial banks in the region. Talking in Quetta, he said Balochistan Chief Minister Nawaz Sanaullah Zehri has already been approached for the purpose, as there was need for improving banking activities in the province in the light of improved law & order situation and China-Pakistan Economic Corridor.
Initiative for establishment of Punjab, Khyber and Sindh Banks came from the provinces but appreciably the suggestion for setting of Balochistan Bank has come from the SBP itself, which was initially against establishment of such banks. The three banks are currently functioning as commercial banks, providing people of their provinces benefits of employment, finance, training and economic development. Therefore, establishment of Balochistan Bank would go a long way in economic and commercial development of the province by way of provision of funding for industry and developmental activities. While welcoming the announcement, we would propose that in view of rapidly changing landscape of Balochistan, there is urgent need for expansion of banking network and therefore, all existing banks may be directed to open their branches in different areas. The SBP Governor is also talking about e-banking and mobile banking in Balochistan and hopefully the provincial government would take complementary steps so that people could benefit from such opportunities and openings to the optimum.

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