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| JK Bank changeover political issue, not management concern: Mehbooba | | | EARLY TIMES REPORT
Srinagar May 26 (KNS): Rejecting the lame excuses forwarded by the state government to defend its decision to move away from JK Bank’s over draft facility to the RBI’s ways and means arrangement, Peoples Democratic Party today maintained that the decision was a serious blow to state’s dignity, self respect and self reliance.
In a statement PDP president Mehbooba Mufti said it was unfortunate that the government had now deployed the Bank management to defend a decision that has serious political implications and disastrous consequences for governance in the state.
“While the government itself has been unable to convince anyone on the subject it is ironical that the bank owned by it should call the decision to
surrender state’s only financial mechanism to centre a win-win situation for all” she said and pointed out it was a political issue and not a management concern.
Mehbooba said while the ‘benefits’ of the decision that the government
claimed to flow out of its dumping of JK Bank as its lender have been rejected by experts and the public opinion in the state it seems the fall out of it has already started being felt as even at the beginning of the fiscal year bills have been bouncing from the treasuries. She said the contractors executing government works have been on a war path and refusing to carry out works because of the inability of government to make timely payments.
“In certain cases even the salaries are in default and daily wagers and seasonal workers hardly ever received their dues in months.”
Reiterating that the decision had taken away from the state its last pillar of self reliance and source of fiscal management Mehbooba said the state governments would henceforth be completely dependant on central government and the RBI for even routine spending. Even as the National Conference made noises about its autonomy demand in practice it was conceding even the last remnants of it to stay in power, she said “notwithstanding the fact that JKB the icon of state’s pride and institutional capabilities was reduced to a mere disbursement branch of the RBI”.
Mehbooba said the National Conference which had in a similar ‘brazen’ manner sold out state’s water resources had now resorted to ‘mythological sources’ to show itself as the savior of our interests.
On the one had it has started trumpeting ‘discovery’ of some 36 year old government order having not even archival value on the other it has not been telling the people why the government which is credited with issuing it had not implemented it for seven long years till it remained in power Mehbooba wondered. Even after that the National Conference ruled the state for more than two decades with huge legislative majority that was misused to further dis-empower the state.
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