Srinagar, Sep 1: Apni Party president and former Jammu and Kashmir finance minister Syed Mohammad Altaf Bukhari on Tuesday urged political parties, civil society groups, business organisations and other stakeholders to come together to “protect the character, identity and interests” of Jammu and Kashmir Bank.
Expressing concern over what he described as the bank’s “gradual drift away from the interests of the people of Jammu and Kashmir”, Bukhari said several recent developments warranted collective attention.
He alleged that the bank was reducing its credit growth within Jammu and Kashmir while expanding its operations outside the Union Territory.
Bukhari also raised concerns over a proposal that, he said, could pave the way for recruitment of “outsiders” at the cost of employment opportunities for the youth of J&K.
He further alleged that Jammu and Kashmir had inadequate representation on the bank’s Board of Directors and expressed concern over an alleged attempt to shift the headquarters of the premier financial institution from Srinagar.
“These developments cannot be dismissed as routine administrative matters. They have a direct bearing on the economic interests of the people of Jammu and Kashmir, who have a legitimate stake in the institution and its future,” Bukhari said.
He appealed to all political parties and social organisations to rise above partisan interests and collectively oppose any move that could, in his view, undermine the interests of the people of J&K.
“This is not an issue concerning any one political party or section of society. It concerns the collective social and economic interests of the people of Jammu and Kashmir,” he said.
Bukhari said the people of Jammu and Kashmir collectively hold more than 52 percent of the shares in J&K Bank, describing them as the institution’s “principal stakeholders”.
“They have, therefore, a legitimate right to demand that the interests of the institution and its shareholders be protected,” he said.
Calling for a collective strategy, Bukhari urged the Chambers of Commerce from both Jammu and Kashmir, lawyers, intellectuals, civil society groups, business organisations and other concerned sections to discuss the issue and make their voices heard.
“The time has come for all of us to speak with one voice: J&K Bank must remain rooted in Jammu and Kashmir, and its policies must continue to prioritise the interests of the people who have nurtured, supported, and strengthened this institution for generations,” he said.
Bukhari appealed to stakeholders to come together before, what he termed, “it is too late” and work towards ensuring that the bank continues to prioritise serving the people of Jammu and Kashmir.
