This refers to the recent decision of Governor administration to declare J&K bank a PSU. In fact this unfortunate decision can have far-reaching implications on overall growth of this premier financial institution. It will shake the autonomous decision-making process of J&K bank. J&K bank needs to evolve in a vibrant atmosphere free from state and political interferences. This institution is being politicized for reaping narrow political interests. Politicization of financial institutions is very detrimental for their growth and prosperity. Everyone knows the fate of other PSUs like SRTC, SIDCO, etc. How they have become burden on state exchequer. So the need of the hour is to reshape our priorities and take effective steps to restore the glory of J&K bank. Governor administration should consult and involve reputed economists and financial experts in this regard .It is only through debate and discussion that newer and innovative ideas take birth. The decision to make J&K bank should be scrapped in the larger interest of this state.
SYED MOHSIN ATTIQ