Gilgit-Baltistan:State Bank of Pakistan to Establish its office in GB

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GILGIT (Dawn): The State Bank of Pakistan will establish its office in Gilgit to resolve financial matters of the region.

Sources in the administration said a three-member delegation comprising Chief Minister Syed Mehdi Shah, Senior Minister Mohammad Jaffar and Chief Secretary Sajad Salim Hottiana met the SBP governor in Karachi to discuss the possibility of opening the branch of the central bank in GB.

They said matters pertaining to finance and other related issues came under discussion.

They added that all provinces were entitled to have an overdraft from the SBP, but GB was lacking this facility.

The officials said the SBP governor assured the GB representatives of ensuring an overdraft of Rs5 billion to the GB government in order to meet financial demands of the area.

Sources said the GB delegation also discussed possibility of setting up region’s own bank like other provinces. The SBP head also assured to extend help in this regard.

FINANCIAL PACKAGE: The federal finance minister has assured to release Rs5 billion package for Gilgit-Baltistan before the interim government is installed in Islamabad to help end financial woes of the region.

This was disclosed by GB Finance Minister Mohammad Ali Akhtar while talking to Dawn.

He said those speaking of rolling back the political reforms package to GB lived in fool’s paradise. He said his meeting with the federal finance minister was fruitful.

He said soon the region will have its own Public Service Commission as well as Services Tribunal which were the result of the political reforms package.


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