The State Bank of Pakistan (SBP) governor on Monday issued a directive to all commercial banks’ heads to bolster their services in Balochistan, improve their footprint and prepare a three-year business plan for incorporation.
In a press conference on Monday, he stated that banks have an opportunity to earn more if they ensure the provision of services to their consumers.
“The objective of the gathering is to provide people, especially those linked to trade and industry, with superior banking services and facilities,” said Mr Wathra.
He noted that there has been an improvement in the overall security situation in Balochistan along with an improved availability of energy in recent years. He pointed out that banking services should be extended to far-flung areas.
He advised commercial banks to come up with innovative financing ideas assuring inclusive economic growth. “Local candidates should be given preference while recruiting,” he said.
As per the press release by the SBP, Mr Wathra advised banks to ensure the provision of ATM’s branchless banking accounts and branchless banking agents in Balochistan province.
The Chief Minister Nawab Sanaullah Zehri also met Mr Wathra to discuss issues pertaining to the formation of Balochistan Bank.
The feasibility report for Balochistan Bank will be shared with SBP by the provincial government. “Establishing Balochistan Bank is my dream,” Mr Zehri said. “Unemployment, poverty, backwardness and terrorism will vanish from the province if we provide jobs to 100,000 youths of Balochistan,” he said.
The SBP governor stated: “The SBP will regulate commercial banks’ planning and preparation in this specific case.”
