Trouble for Contractors: JK Bank freezes Panchayat accounts

Srinagar, : Much to the harassment and annoyance of the contractors working under Integrated Water Management Program (IWMP), the Jammu Kashmir Bank has frozen the Watershed Committee accounts in Valley. This move has affected scores of contractors and the irony is that the frozen accounts fall within the ambit of Panchayats.

“We don’t know why the Jammu Kashmir Bank have frozen these accounts, though they all fall within the ambit of Panchayats. For different works carried out under IWMP, we spent money from our own pockets, but we are unable to get the payment now as these accounts have been frozen,” a group of contractors led by Muhammad Altaf told CNS.

 An official from IWMP Budgam said that they had requested Jammu Kashmir Bank Unit Raithan Budgam to revive one of their frozen accounts so that hassle free transaction could be made upon the account in question. However, the  Bank authorities didn’t take the request seriously and asked us to contact Finance Department Government of Jammu and Kashmir.

 He added that Finance Department Government of Jammu and Kashmir in its order vide number 269-F of 2016 under the subject ‘Rationalization of Bank Accounts’ had categorically asked the Jammu Kashmir Bank not to froze bank accounts operated by School Education Department and Panchayats.

 “The Jammu Kashmir Bank overruled the order of Finance Department and froze several accounts falling within the ambit of Panchayats,” he said and added that the anti-people move of the Bank has put scores of contractors working for Department of Rural Development and Panchayati Raj in trouble.
When contacted, an official from Jammu Kashmir Bank said that he will look into the matter. He said that they have already informed the Finance Department about the issue and are waiting for their response. (CNS)

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.



Leave a Reply

Your email address will not be published.