JK Bank PSU

Published at December 03, 2018 12:18 AM 0Comment(s)3948views


JK Bank PSU

Dear Editor,

The Governor’s Administration’s decision to make J&K Bank a public sector undertaking needs to be looked from both the viewpoints. We all know how PSUs are on the decline mode in the state. But isn’t it a hypocrisy that people who rule, who form government, who are politicians are saying don’t make a bank a public sector undertaking, the institutions that are under their control. We have the former finance minister giving special inputs to newspapers – isn’t he the same person who helped in drafting Agenda of Alliance, who was in favour of PDP-BJP alliance, who didn’t speak a word when he was a minister and instead spoke very high of public sector undertakings that by his “marvelous budget” were going to achieve the impossible? Politicians form government and they head the institutions including all public sector undertakings. If JK Bank will be headed by them tomorrow, how is the decision abominable? We think that only those people are raising cries who have acquired maximum shares in the bank. They are afraid that if RTI or investigation is done the rot will come out. The disgruntled finance minister, if he will look at the past, he will definitely find how many breaches in special status of J&K were made, even when he was present. There are people who are genuinely worried that the conversion of the bank into PSU may mar its growth and functioning, but the politicians do not seem to be among them. They seem to be worried about something else. A good stand would be to bring the bank under scrutiny, including all its share holders, and at the same time retaining some of its independent functioning. We hail the decision if it is meant to eradicate corruption in real sense.

Saqib Nazir

Rajbagh, Srinagar     

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