Shehar-e-Khaas Traders Coordination Committee while saying that the recent decision of State Administrative Council was an attempt to “rob” the state of its financial autonomy has demanded a complete roll back of the SAC decision.
A statement issued here said converting a prime financial institute of state of such as J&K Bank to brought it at par with other state owned institutes which are already loss making entities as of now was an unacceptable decision.
“The model proposed by the government for treating J&K Bank as a PSU is a failed model as out of 21 PSUs in Kashmir 17 are loss making. We fail to understand what the government of India wanted to prove by adopting this model,” the statement said.