Srinagar: Protests over Governor Satya Pal Malik’s recent decision to declare J&K Bank as a public sector undertaking gained political momentum on Wednesday with former Chief Minister and Peoples Democratic Party president Mehbooba Mufti raising the issue with Union Finance Minister Arun Jaitley.

“I spoke with Jaitley ji about the intrusive and regressive move to declare J&K Bank as a PSU. This decision will add to the woes of the State and alienate them further,” said Ms. Mufti. She claimed the Union Minister assured that the government will re-examine the matter.

Both the National Conference and the PDP have opposed the move by the Governor-headed State Administrative Council’s decision to declare the bank as a PSU and “rob its independence”.