Apni Party chief Altaf BukharI raises concern over ‘J&K Bank’s direction’, seeks collective action

Ziraat Times News Desk

SRINAGAR, SEPTEMBER 1: Jammu & Kashmir Apni Party President Mohammad Altaf Bukhari has urged all political parties, civil society groups, business organisations and other stakeholders to come together to protect the character, identity and interests of Jammu & Kashmir Bank.

In an appeal issued today, Bukhari expressed “deep concern” over what he described as the bank’s “gradual drift away from the interests of the people of Jammu and Kashmir.”

He identified four developments that, according to him, were affecting the interests of the premier financial institution.

Bukhari alleged that the bank’s credit growth within the Union Territory was being reduced while its lending was being expanded outside J&K. He also expressed concern over a proposal that, he said, could pave the way for recruitment of outsiders at the cost of employment opportunities for the youth of J&K.

He further raised concerns over what he termed inadequate representation of Jammu and Kashmir on the bank’s Board of Directors and alleged attempts to shift the headquarters of the institution from Srinagar.

“These developments cannot be dismissed as routine administrative matters,” Bukhari said, maintaining that they have a direct bearing on the economic interests of the people of Jammu and Kashmir, who have a legitimate stake in the institution and its future.

He appealed to political and social forces to rise above party lines and “narrow political interests”, arguing that the issue concerned the collective social and economic interests of the people of J&K.

Bukhari also pointed to the shareholding pattern of the bank, stating that the people of Jammu and Kashmir collectively hold more than 52 per cent of its shares.

“They are, therefore, its principal stakeholders and have a legitimate right to demand that the interests of the institution and its shareholders be protected,” he said.

Calling for a collective response, the Apni Party president urged political parties, civil society groups, intellectuals, lawyers, business organisations and the Chambers of Commerce from Jammu and the Valley to come together and formulate a common strategy.

“The time has come for all of us to speak with one voice: J&K Bank must remain rooted in Jammu and Kashmir, and its policies must continue to prioritise the interests of the people who have nurtured, supported, and strengthened this institution for generations,” he said.

Bukhari said the stakeholders must act before it was too late and stressed that the bank should continue to prioritise serving the people of Jammu and Kashmir.

“The time to act is now. We must stand together to protect an institution that belongs to the people of J&K,” he said.