The Balochistan government has set aside Rs1 billion from its own funds to build the Bank of Balochistan, claiming that the new financial institution will generate jobs for many unemployed educated youth.
The province administration has begun the process of hiring a company to provide consulting services for the establishment of a bank in Balochistan in order to enhance economic activity.
An official from the Balochistan administration told APP on Friday that the effort was aimed at offering monetary incentives to businesses, which would eventually promote economic growth and provide more job possibilities in the province.
“Its activities will govern commercial and Islamic banking under one wing under the supervision of the State Bank, resulting in a broadening of the banking base in the region,” he added, adding that the facility would be set up as a commercial, investment, and development bank.
