Excelsior Correspondent
Srinagar, Nov 29: Valley based industrialists today termed the Governor led administration’s decision of turning J&K Bank into PSU as ‘economic terrorism’ and asked the Government to revoke decision by Saturday.
Industrialists Association Khunmoh (IAK) today held a presser to pitch for the revocation of decision of turning J&K Bank into PSU.
The members including Kaiser Shahid, Senior Vice president, Yasir Khan Vice president, Imran Murataza General Secretary, Shaheem Khan Secretary Finance and Javaid Ah Lone Secretary said that the recent decision taken by the Government to reduce J&K Bank as PSU was ‘economic terrorism. “Such decisions are unacceptable to the people. The decision should be revoked till Saturday. The industrialists will observe shutdown on Saturday (December 1) in case the decision won’t be revoked,” they said.
Click here to watch video
“Since its inception in 1938, J&K Bank enjoyed its economic freedom and attain important position in the society of J&K with its hard work, honesty and integrity adds value to the people of Jammu and Kashmir and supports native industries of J&K as the bank is the main institution providing financial support to industries,” they said.
The industrialists said that the model proposed by Government of India for treating J&K Bank as PSU is a failure model as out of 21 PSUs in India, 17 are loss making.
“As J&K bank is a listed company its mandatory for the listed company to disclose its financials in front of the general public as when required. J&K Bank is already under the ambit of RBI, NABBARD and Attorney General Audit designated by Central Government,” they said.
Follow our WhatsApp channel
