Srinagar, Nov 29: Former finance minister Dr Haseeb Drabu on Thursday said that treating J&K bank as a public sector undertaking (PSU) is against economic interest of the state.
“@jandkgovernor ofcourse I have personal interest in @JandKBank. We have emotional equity in it.Ur decision is against economic interest of the state which is against my political interests. Neither is malafide. Wish one could say the same about ur decision,” Drabu wrote on Twitter.
Drabu was reacting on the governor Satya Pal Malik’s statement that only people with “personal or political interests” in J&K Bank are opposing the move to turn the bank into a Public Sector Undertaking (PSU) and the opposition is “without merit”.
On November 22, the Governor-led State Administrative Council (SAC) had approved the proposal for treating Jammu and Kashmir Bank Limited as a Public Sector Undertaking (PSU).
The move was criticised by all regional political parties, trade and business communities and also the employees of the J&K Bank. In the last few days, it has snowballed into a major issue.
The Governor’s administration had clarified that the government had “no intention of interfering in the day-to-day affairs of the bank and its functional autonomy”. Besides treating the bank as PSU, the SAC also brought the bank under the ambit of the Right to Information, asked it to follow Central Vigilance Commission guidelines and made it accountable to the Legislative Assembly with its annual report to be tabled in the House.