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Governor Faisal Kundi Directs BoK to Launch Solar Financing Scheme
PROVINCE REPORT
PESHAWAR: Governor Khyber Pakhtunkhwa Faisal Karim Kundi chaired a meeting on the affairs of Bank of Khyber (BoK). Adviser on Finance Tariq Mahmood Pasha, Special Secretary Finance Khalid Awan, the Managing Director of BoK and other officials attended. The meeting reviewed the Bank’s performance, achievements, challenges, future targets and institutional reforms.
Managing Director and CEO Hassan Raza briefed the Governor and presented 2024-25 as a year of improved performance for BoK, which has 256 branches across Pakistan, 170 of them in Khyber Pakhtunkhwa, and is being converted to Islamic banking. He added that steps have also been taken on institutional reform, restructuring and administrative change.
The meeting was told that BoK’s Road to Transformation programme is moving forward, with work under way to digitise services and upgrade the mobile app. BoK’s Currency Exchange Company will soon start operations.
A remittance card will be introduced to make receiving money from abroad easier. BoK has also signed an MoU with Pakistan Post, so that customers can receive their remittances through Pakistan Post’s wide network, bringing the service closer to their homes, including in remote areas.
Officials informed the Governor that BoK provides financing under two federal and four provincial government schemes, including Ehsaas Naujawan, Ehsaas Hunar, Ehsaas Apna Ghar, Prime Minister Apna Ghar and the agricultural loan programme. Work is under way to introduce modern financing facilities in agriculture and housing.
The Governor Faisal Karim Kundi directed BoK to develop a solar financing scheme so that the public can access financing for alternative energy. A proposal to open an account at BoK for the education costs of the children of police martyrs was also considered.
Governor Khyber Pakhtunkhwa further directed that a marketing campaign be carried out across Pakistan on all of BoK’s loan schemes and financing facilities, including those in agriculture and housing, to raise public awareness. He stressed that the Bank’s services should match people’s needs and that institutional reforms should bring customers better, modern and easier banking.
National
Pakistan-US Relations Can Expand Beyond Security, Says Holland
PROVINCE REPORT
ISLAMABAD: Trade, critical minerals and technology can provide a stronger and more sustainable foundation for Pakistan-US relations than security-driven partnerships of the past, Professor Dr. Kenneth M. Holland, Fulbright Specialist and Adjunct Professor of Political Science at the University of Utah, said at the Institute of Regional Studies (IRS).
Speaking at a session titled “Pakistan-US Relations in a Multipolar World,” organised by the IRS China Program under its Eminent Speaker Series, Professor Holland highlighted opportunities for economic cooperation amid growing strategic competition among the United States, China and Russia.
He said critical minerals, artificial intelligence, private-sector investment and educational exchanges offered promising avenues for strengthening bilateral ties. Pakistan’s mineral resources and educated, English-speaking young workforce could help attract American investment, particularly in technology-related services.
Discussing regional dynamics, Holland said Pakistan sought strategic autonomy and could diversify its economic partnerships through stronger engagement with the United States. He also highlighted shared counterterrorism concerns, particularly the threat posed by ISIS-K, while noting Washington’s concerns about the potential military implications of the China-Pakistan Economic Corridor (CPEC).
He stressed the importance of expanding trade, promoting higher-value-added exports and improving electricity and internet infrastructure to support economic cooperation.
Holland also highlighted educational ties, noting that Pakistan hosts the world’s largest Fulbright programme and that the number of Fulbright PhD scholarships for Pakistani students had increased from 33 to 66.
The discussion covered regional connectivity projects, including the TAPI gas pipeline, CASA-1000 and the Trans-Afghan Railway, as well as changing relations among regional powers.
Dr. Usman Chohan, Research Fellow at IRS, highlighted emerging opportunities in digital assets and a proposed liquidity arrangement between Pakistan and the United States.
Concluding the session, Holland said both countries shared important interests despite differences over China and India, adding that skilful diplomacy would be essential to managing these differences and building a lasting economic partnership.
