Need to protect J&K Bank’s autonomy: LJP

Tribune News Service

Srinagar, December 6

Calling for strengthening of the public sector undertakings (PSUs) in the state, Lok Janshakti Party (LJP) national spokesperson Sanjay Saraf on Thursday said the financial autonomy of J&K Bank should be preserved at any cost.

“The financial autonomy of J&K Bank should be preserved as emotions of the people of the state are associated with it. The bank was an autonomous institution and it should remain so. Even though bringing it under the ambit of the Right to Information Act will improve accountability, 19 PSUs in the state have become white elephants and are running into losses. Instead of wasting time in converting J&K Bank into a PSU, the government should strengthen the existing public sector units,” Saraf said while addressing a press conference here.

Incidentally, this was the first press conference held at the Kashmir Press Club thrown open recently.

Saraf made the comments with reference to the State Administrative Council meeting chaired by Governor Satya Pal Malik on November 23 that decided to turn J&K Bank Ltd into a PSU.

On the controversy over issuing of permanent resident certificates, Saraf said: “We will not tolerate any tinkering with PRCs as it is an attack on Article 35A and the government should desist from touching sensitive issues.”