Move to take over JK Bank have been in pipeline for long time, says Farooq Abdullah

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Srinagar: Commenting on the recent controversy surrounding Jammu and Kashmir Bank, National Conference party President Farooq Abdullah on Wednesday said that the moves to take over the institution have been in pipeline for a long time.

“The moves to take over the J&K Bank have been in pipeline for a long time. They haven’t succeeded till then but probably in the governor’s rule they thought they will succeed,” said Abdullah while talking to the reporters on the side-lines of a function marking 36th annual day of SKIMS at SKICC.

Abdullah said that there were plans to take over the bank when was the chief minister of the state.

“I think there was a design long time earlier when I was the CM and J&K Bank was working well. I remember then I was in the office of Home Minister L K Advani along with deputy chairman planning commission and they were saying the bank is not good it is going down and it should be taken over,” Abdullah said.

Luckily, he said, a daily from Mumbai had published a complete report on this bank and showed how good it was.

“I sent those reports to them and I am glad that the deputy chairman planning commission spoke to me on the phone and said his information was wrong,” he said.

Abdullah said that the autonomy of the bank should not be fiddled with.

“But any government that will come after governor’s rule is over will have to look into this. Nothing should be done to the autonomy of JK bank,” he said.

Earlier, in his speech, Abdullah said that time has come for the resolution of Kashmir issue.

“I see a change between the Indian and Pakistani leaders…I am quite confident that time has come and that is why probably God has kept me alive to see solution emerging to this problem of our state and I hope we have peace which we all want,” he said.

Abdullah said that he wanted to walk freely without any security in the valley.

“I want to walk freely without any security. My daughters and my friends and my colleagues and people in this ate could work without any tragedy. I hope it will happen and I hope you all will pray for this that we have that situation,” said Abdullah.

Earlier, Governor Satya Pal Malik on Tuesday after meeting a delegation of the Jammu and Kashmir Bank, had released a statement in which he had said that the Bank is a registered Government Company under the Companies Act and the word PSU (Public Sector Undertaking) has no legal connotation.

“J&K Bank is registered as a Government Company under the Companies Act. The word PSU has no legal connotation. J&K Bank continues to be a Government Owned company. No new changes are being made here,” Governor Malik had said in a statement.

The statement had also added that government will re-examine the issue of accountability of the J&K Bank to the state legislature.

“…However, in view of the concerns expressed, and to give comfort to employees, the government will re-examine the issue of accountability to legislature,” had said a statement, issued by Malik.

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