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.
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.