SRINAGAR: Apni Party president and former Jammu and Kashmir finance minister Syed Mohammad Altaf Bukhari on Tuesday called upon 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 a number of recent developments required collective attention.
He alleged that the bank was reducing its credit growth within Jammu and Kashmir while expanding operations outside the Union Territory.
Bukhari also raised concern over a proposal which, according to him, could open the way for recruitment of “outsiders” at the cost of employment opportunities for local youth.
He further alleged that Jammu and Kashmir had inadequate representation on the bank’s Board of Directors and voiced concern over what he described as an 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.
The Apni Party chief appealed to political parties and social organisations to rise above partisan considerations and collectively oppose any move that, in his view, could undermine the interests of the people of Jammu and Kashmir.
“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 claimed that the people of Jammu and Kashmir collectively hold more than 52 per cent 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 Jammu and Kashmir, lawyers, intellectuals, civil society groups, business organisations and other stakeholders to discuss the issue and make their concerns 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.
He appealed to stakeholders to come together before, what he termed, “it is too late”, and work to ensure that the bank continues to prioritise the interests of the people of Jammu and Kashmir.
