Balochistan is finally moving ahead with its long-discussed plan to set up a provincial bank, a move officials say could transform the region’s economic landscape and give the province more control over its financial future.
The decision came during a high-level meeting chaired by Chief Minister Mir Sarfraz Bugti, with senior officials including Finance Minister Mir Shoaib Nosherwani, Chief Secretary Shakeel Qadir Khan, and banking specialists in attendance. After reviewing a preliminary feasibility study, the government declared the project both viable and essential.
Bugti directed authorities to draft a full operational blueprint for the Bank of Balochistan within a week. He said the institution would offer easy-to-access financial services to local entrepreneurs, traders, and industrialists, while also serving the public. “This is about empowering Balochistan’s economy and creating opportunities for our youth,” he noted.
A Bank With Provincial Roots and National Ambitions
Officials explained that the bank would not only inject much-needed liquidity into the provincial economy but also fund local development projects by leveraging homegrown financial resources. While the bank’s initial focus will be on serving Balochistan, Bugti indicated it could eventually expand its reach nationally.
Banking experts who joined the meeting remotely echoed this optimism, stressing that a provincial financial institution could accelerate growth and reduce Balochistan’s dependence on external funding.
A Plan 15 Years in the Making
The concept of a dedicated Balochistan bank is not new. It first surfaced in the 2007–08 budget under finance minister Syed Ehsan Shah during Nawab Aslam Khan Raisani’s government. A decade later, Rs10 billion was earmarked for the project in the 2017–18 budget, but it failed to take off.
With this week’s announcement, the provincial government appears determined to finally deliver on what has been a long-standing demand from both the public and the business community. If executed effectively, the Bank of Balochistan could become a cornerstone of the province’s economic strategy, helping fund infrastructure, attract investors, and create a more self-sustaining financial ecosystem.
