LAHORE: The Bank of Punjab has signed an agreement with the State Bank of Pakistan for collecting government receipts in Balochistan province.

A signing ceremony was held at the SBP head office and attended by SBP Deputy Governor Jamil Ahmed and BoP President & CEO Zafar Masud.

Under the agreement initiated by the Balochistan government, BoP will act as collecting agent of government receipts covering e-stamping and Land Record Management Information Systems in Balochistan.

It will also help tackle the issue of fake stamp papers and improve Balochistan government’s stamp duty receipts. The BoP has been working as agent bank for Punjab government receipts since 2016.

Mr Masud said they are very excited to work on this project and intend to offer their services to other provinces as well, learning from their experiences with the Punjab government, particularly in the areas of digital payments, low-cost housing, concessional financing, etc.

Published in Dawn, September 8th, 2021