ISLAMABAD: The Balochistan government has allocated Rs1 billion for the establishment of Bank of Balochistan from its own resources and claimed the new financial institution would provide employment opportunities to many unemployed educated youth.
The provincial government has initiated the process to hire consultancy services of a company for setting up the bank to boost economic activities in Balochistan.
The initiative was aimed at providing monetary incentives to businesses that would eventually spur economic growth and create more employment opportunities in the province, an official of the Balochistan government told APP on Friday.
“Its operations will regulate the commercial and Islamic banking under one wing in the supervision of the State Bank leading to broadening the base of banking in the region,” he said, adding the facility would be established as a commercial, investment, and development bank.
