Balochistan Bank to be set up, says minister

Published June 18, 2021
Finance Mini­ster Mir Zahoor Ahmed Buledi (left) has said that the coalition government has deci­ded to establish the province’s own bank with the name of ‘Balochistan Bank’. — Photo courtesy Balochistan Govt Twitter
Finance Mini­ster Mir Zahoor Ahmed Buledi (left) has said that the coalition government has deci­ded to establish the province’s own bank with the name of ‘Balochistan Bank’. — Photo courtesy Balochistan Govt Twitter

QUETTA: Finance Mini­ster Mir Zahoor Ahmed Buledi has said that the coalition government has deci­ded to establish the province’s own bank with the name of ‘Balochistan Bank’.

The decision to open the bank will be included in the upcoming provincial budget to be presented in the Balochistan Assembly on June 18 (today).

Speaking at a press conference along with provincial Minister for Revenue Mir Saleem Ahmed Khosa here on Wednesday, Mr Buledi said the government was making efforts to increase provincial resources to provide more funds for development of Balochistan.

“We are introducing legislation to increase our revenues,” Revenue Minister Saleem Khosa said, adding that work is under way to digitise land revenue in Quetta, Jaffarabad, Nasir­abad, Pishin and Gwadar, and after a month tax would be received through banks, instead of submission of the tax amount with Patwari.

Giving some details of the next financial year’s budget, Finance Minister Buledi said that the size of the budget is expected to be Rs500 billion which would be more than the previous year’s budget.

He said the provincial government had managed to reduce the deficit in the previous budget by 50 per cent and bridged the gap by collecting provincial revenues of Rs30 billion while the target was Rs40bn.

The finance minister said that in the outgoing financial year, an amount of Rs108bn was allocated for the provincial Public Sector Development Programme and out of this amount Rs75bn had been spent on various development projects in the province.

Published in Dawn, June 18th, 2021

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.