The Khyber Pakhtunkhwa government is considering establishing its own Islamic Micro Finance Bank and Provincial Industrial Development Bank to promote economic growth and overcome the issue of unemployment in the province and Fata. This was stated by senior KP Minister Finance Sirajul Haq while talking to Acting Managing Director of the Bank of Khyber (BoK) Imran Samad here at Civil Officers’ Mess on Thursday.

The minister spoke about the provincial government’s policy guidelines on banking and investment sector. He said that the government did not want to spend hard earned money of the people on realisation of failed ideas instead it was the high time to provide better opportunities for social and economic uplift of the masses in real sense. Haq reiterated the government’s resolve to put youths on the right and professional track, enabling them to play an effective role in the development of the province.

He lauded the BoK’s role in development of various industrial and agro-based entities especially through micro finance initiatives. He was of the view that overseas Pakistanis should also be encouraged to play their role in the economic development of the province. The BoK’s Acting MD extended an invitation to the senior minister to formally inaugurate the Islamic Banking Branches at Chitral and Gilgit, which the minister accepted.

*This article was published by Business Recorder. Read the original article here.