GILGIT, March 4: 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.http://dawn.com/2013/03/05/state-bank-to-open-office-in-gb/
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