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JKSECC refers of dilution of J&K Bank as economic 'suppression' in Jammu & Kashmir
11/29/2018 11:39:08 PM
Jehangir Rashid

Early Times Report

SRINAGAR, Nov 29: A civil society group while taking pot shots at the recent government decision of making Jammu & Kashmir Bank as a public authority today said that the decision is equivalent to economic 'suppression' of the people of state especially those living in Kashmir valley.
Addressing a press conference, the civil society group named as Jammu & Kashmir Socio Economic Coordination Committee (JKSECC) said that the Jammu & Kashmir Bank has over the past few decades come up as a vibrant people friendly financial institution. They said the dilution of the bank tantamount to economic 'suppression' of the people of Jammu & Kashmir.
"The dilution of Jammu & Kashmir bank is equivalent to economic killing and it is bound to have serious ramifications for the society as a whole. This economic suppression is aimed to overpower us economically and it should not have happened. Killing us economically seems to be sole motive of this step," said Zahoor Tramboo, senior member of JKSECC.
Tramboo said that since different sectors of economy are in doldrums the recent step vis-à-vis Jammu & Kashmir Bank is bound to lead to more alienation of the businessmen from the mainstream. He said that traders and businessmen have suffered huge losses due to the turmoil that is prevalent in the Kashmir over the past three decades or so.
JKSECC member Faiz Bakshi said that exports from Kashmir have come down drastically over the past few years adding that same is due to the unfavourable circumstances prevailing in the valley. He said that Jammu & Kashmir stands at serial number 27 among the 29 states of the country when it comes to ease of doing business.
The JKSECC members expressed lament that the dry fruit industry has virtually been vanished since the quality of the same has degraded due to many factors including the lackadaisical attitude of the people at helm. They said the quality of apples of Kashmir has also been degraded as compared to the apples being produced in Himachal Pradesh.
The JKSECC members said that if the natural resources are channelized in right direction then Jammu & Kashmir can produce electricity that would not only suffice its own needs but can be exported as well. They said that economic progress of the state is very much linked to power sector and if the sector is taken care of Jammu & Kashmir would march on the path of progress and development.
The JKSECC members said that people should be given the right to life and also the right to dignified life. They asked civil society to raise their voice as and when the right to life is violated in the Kashmir valley. They asked the people to raise a campaign in this regard so that justice is delivered.'
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