Srinagar, Sept 1(KNS): Former Jammu and Kashmir Finance Minister and Apni Party president Syed Mohammad Altaf Bukhari has urged political parties, civil society groups, business organisations and other stakeholders to come together to protect the interests and character of J&K Bank.
In an appeal issued on Tuesday, Bukhari expressed concern over what he described as the bank’s “gradual drift” away from the interests of the people of Jammu and Kashmir.
He alleged that the bank was reducing credit growth within the Union Territory while expanding its operations outside J&K. He also raised concerns over a proposal that, according to him, could open the way for recruitment of people from outside the region at the cost of employment opportunities for local youth.
Bukhari further questioned the representation of people from Jammu and Kashmir on the bank’s Board of Directors and alleged that there were attempts to shift the headquarters of the premier financial institution from Srinagar.
“These developments cannot be dismissed as routine administrative matters.Click Here To Follow Our WhatsApp ChannelThey have a direct bearing on the economic interests of the people of Jammu and Kashmir,” he said.
Bukhari appealed to political and social organisations to rise above party lines and work out a common strategy to ensure that the bank continues to prioritise the interests of the people of J&K.
He said the people of Jammu and Kashmir collectively hold more than 52 per cent of the shares in J&K Bank, making them its principal stakeholders with a legitimate right to seek protection of the institution and its shareholders’ interests.
“The time has come for all of us to speak with one voice: J&K Bank must remain rooted in Jammu and Kashmir,” Bukhari said.
He urged political parties, civil society groups, intellectuals, lawyers, business organisations and the Chambers of Commerce from both Jammu and Kashmir divisions to collectively raise the issue and ensure that the bank remains focused on serving the people of the Union Territory.(KNS)