Wed. Oct 28th, 2020

Karakoram Bank will be established in Gilgit-Baltistan: Mehdi Shah

CM attending a high level meeting with Muhammad Ali Akhtar, Sher Jahan Mir and others in Gilgit

KCB will be dissolved into Karakoram Bank

Our Correspondent

Gilgit, October 2: The government of Gilgit-Baltistan plans to upgrade Karakoram Cooperative Ban to the level of fully commercial, provincial, bank. All assets of the KCB will be taken over by the Gilgit-Baltistan government.

CM attending a high level meeting with Muhammad Ali Akhtar, Sher Jahan Mir and others in Gilgit

This was reportedly stated by Chief Minister Syed Mehdi Shah today while presiding over a meeting related to performance evaluation of the Karakoram Cooperative Bank, the region’s only financial institution.

A press release by the CM Secretariat says that the Chief Minister will meet President Zardari soon to discuss the creation of Karakoram Bank. Measures will also be taken to increase the bank’s revenue, it said.

 

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