Govt Sticks To Its Guns,No ‘Rethink’ On JK Bank PSU Decision  

SRINAGAR — The Governor, Satya Pal Malik, has stuck to his stand about the decision to declare Jammu and Kashmir Bank a Pub­lic Security Undertaking (PSU) and won’t “roll back” the deci­sion despite protests by political parties here. Officials said that there is no “rethinking” on the State Administrative Council (SAC) decision to declare Jammu and Kashmir Bank a PSU. The bank has been “brought under the full administrative and finan­cial control of the government.”

A top government official, on condition of anonymity, said that Governor Malik has not mulled “ to roll back the SAC decision to declare Jammu and Kashmir Bank a PSU and won’t pay any heed to protests of two Kash­mir mainstream parties National Conference (NC) and Peoples Democratic Party (PDP) and the trade bodies of Kashmir.” He said, “since the government has already clarified that it does not intend to intervene in the work­ing of the bank and would ensure its autonomy, the Governor does not see any scope to rollback the SAC decision that declared Jam­mu and Kashmir Bank a PSU.”

A top leader of All India J&K Bank Officers’ Federation said that the protests by its members against the SAC de­cision may be the “beginning of a bigger struggle to secure the interests of the bank after which the government could be served an ultimatum as the bank employees are ready to even lay down their lives for protecting the institutional, administrative and financial autonomy of the bank.”

Two former chief ministers Omar Abdullah and Mehbooba Mufti have already demanded a rollback of the SAC decision and Hurriyat Conference (M) chair­man Mirwaiz Umar Farooq has voiced his serious “concern over the government intervention in the working of the Jammu and Kashmir Bank.”

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