ZT News Network

Srinagar, Nov 27: 

The management of Kashmir Valley Fruit Growers Cum Dealers Union – an umbrella body of all fruit growers and dealers associations of the valley viz Fruit Association Srinagar, Sopore, Baramulla, Kupwara, Handwara, Khoi, Kulgam, Shopian, Pulwama, Anantnag, Jablipora, Chrar-e-Sharief, Budgam and Ganderbal, headed by its Chairman Mr Bashir Ahmad Basheer, have termed the decision of State Administrative Council (SAC), declaring J&K bank as public sector undertaking PSU a ‘very, very unfortunate.’

Mr Bashir has said that the J&K Bank as the business model needs to be emulated and not altered and the decision declaring J&K Bank as PSU is neither good for the Bank nor for the State.

He further said that the Bank has a quite different model of functioning, and that some people are exploiting the situation with the help of politicians.

“This will have a strong  bearing on decision making of such institutions”, he further said.

The State Administrative Council decision’s has shaken the confidence of people as well as depositors,  Mr Bashir said, adding that the J&K Bank has been doing very well and,  therefore, did not require any change.

The Kashmir Valley Fruit Growers Cum Dealers Union with it is leadership Bashir Ahmad Basheer, therefore, requests the J&K Governor Mr Satya Pal Malik to revoke the recent SAC decision declaring J&K Bank a public Sector undertaking PSU at his earliest