Turning JK Bank into PSU: AIP holds sit-in against SAC decision

Turning JK Bank into PSU: AIP holds sit-in against SAC decision
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Arif Rashid

Srinagar: Awami Itihad Party (AIP) president Er Rasheed along with his party workers on Monday held a sit-in protest in Srinagar against the State Administrative Council’s (SAC) decision to turn Jammu and Kashmir Bank into a Public Sector Undertaking (PSU).
Holding placards “Stop turning J&K Bank into SRTC” and “Don’t erode the Autonomy of J&K bank”, the protesters chanted slogans against the Governor’s administration. The protest was organized outside the corporate headquarters of Jammu and Kashmir Bank at MA road here.
Addressing the protesters, Rasheed said that the state administration council wants to erode the autonomy of J&K bank.
“Turning it into Public Sector Undertaking (PSU) means not only eroding its autonomous character but laying a roadmap to make it as worst as SRTC, SFC, JKPCC or any other failed PSU,” he said.
Rasheed said that increasing role of state government in controlling the bank will create too many issues.
“The Governor is taking the decisions which are not helpful for the people of Jammu and Kashmir,” he added.
He further said that Jammu and Kashmir Bank is the only financial institution in Jammu and Kashmir which has its own autonomous body. “If this decision is not revoked, it will affect the financial aspects of the bank,” he said.
Rashid requested all the political parties including National Conference and Peoples Democratic Party to come together and safeguard the autonomy of J&K bank.