QUETTA, April 30: The Balochistan government has requested the State Bank of Pakistan to convert its overdraft into a soft loan to overcome the financial crisis being faced by the province.The province had obtained an overdraft of Rs21 billion during the past three years and was paying around Rs300 million per month as interest.

Chief Minister Nawab Mohammad Aslam Raisani met SBP Governor Dr Shamshad Akhtar in Karachi recently and made a request that the province be allowed to repay the amount in easy installments after converting the overdraft into soft loan.

According to official sources, the SBP governor assured all possible help and cooperation in this regard.

It was decided that steps would be taken for increasing the receipts and resources of Balochistan.

Dr Shamshad told the delegation that she would soon visit Balochistan.

The Balochistan government would send a comprehensive strategy in the next few days to the SBP.

It was agreed that the suggestions would also be made for enhancing financial resources of the province.

The SBP chief expressed the hope that the province would take steps for increasing its resources and also point out concrete measures to resolve the issue of overdraft and prepare the next financial year’s development projects by implementing it.

Minister for Finance Asim Kurd Gillo, Chief Secretary Nasir Mehmood Khosa, Finance Secretary Mahfooz Ali Khan and Federal Additional Secretary Razi Abbas attended the meeting.