JKSECC rejects ‘vague’ assurance by Governor

KT NEWS SERVICE. Dated: 12/7/2018 12:52:39 PM

Urges him to revoke SAC decision on J&K Bank in its entirety

SRINAGAR, Dec 5: Jammu and Kashmir Socio Economic Coordination Committee (JKSECC), an amalgam of several business chambers and civil society formations, has urged upon the Governor Satya Prakash Malik to revoke SAC decision on J&K Bank in its entirety “if he has any respect for the sentiments of the majority of people here.”
According to a statement, in a meeting of the amalgam, the members of JKSECC rejected the “half-hearted and vague assurances of the governor given to the delegation of bank employees.”
JKSECC viewed that the assurance in no way addresses the apprehensions of experts and business community regarding pushing this great asset of people in the direction of government controlled PSUs which primarily have failed because of political interference and bureaucratic apathy.
“The members said that the very declaration of J&K Bank as a public sector undertaking has far reaching implications as the bank shall lose its autonomous character after becoming subservient to the government as any other PSU. If mere declaration as PSU does not have any legal connotations as stated by the governor then why to declare it so in the first place, questioned the members,” the statement said.
It added that the members also objected to bringing the bank under the jurisdiction of central vigilance commission terming it completely unconstitutional and against the special status of the state and its institutions.
The members also questioned the move of bringing of the bank under RTI and said that although the amalgam is desirous of maintaining utmost transparency in the working of the bank, yet bringing it under the ambit of RTI cannot vaguely be adopted before extensive debate and deliberations with the stakeholders.
“It would be unethical and breach of trust if the bank reveals the savings or borrowings deposited in or obtained from the bank by individuals or business enterprises to any Tom, Dick and Harry, the members observed, adding that it therefore becomes necessary to declare beforehand the areas and contours coming under such act,” the statement said.
It added that in any case, this policy decision should be taken by the political government and not by the Governor’s administration that is temporarily there to address the day to day affairs of the administration.
JKSECC hoped that Governor will not make revocation of SAC decision regarding the bank as his prestige and will end the confrontation with majority of people who have valid reasons to doubt this move.



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