Third party intervention on Kashmir ruled out
Indo-Pak composite dialogue making progress, says PM

HYDERABAD, Nov 14: Ruling out third party intervention in resolving the Kashmir issue, Prime Minister Manmohan Singh today said the composite dialogue between India and Pakistan was making progress and efforts were on to achieve "credible and mutually acceptable solutions" to all outstanding issues including Kashmir.

Defending his decision to cut troops deployment in Jammu and Kashmir, Singh described it as an "experiment" and said "we have taken some risks but they are not unacceptable risks."

"There is no scope for third party intervention on Jammu and Kashmir. India and Pakistan are quite capable of dealing with the issues bilaterally on the basis of composite dialogue," he told reporters here when asked about Pakistan President Pervez Musharraf’s recent formulation on Kashmir.

Musharraf had, in an Iftar dinner on October 25, suggested identification of seven regions on both sides of Kashmir, demilitarize them and change their status through either independence, or joint control or under UN mandate. Singh said the composite dialogue was making progress, and asserted that "we are working towards achieving credible and mutually acceptable solutions to all outstanding issues, including Kashmir."

Justifying his decision to cut troops deployment in the border State, Singh said the ‘major reason’ behind this was the reduction in infiltration levels.

"This (troop reduction) is the experiment we are trying. We have taken some risks but they are not unacceptable risks. We will make a constant review of this," he said and noted that there was "substantial improvement (in the situation) on security front".

On what he hoped to achieve during his coming visit to Jammu and Kashmir, Singh said "we want to reach out to the minds and hearts of Kashmiri people. They have seen a lot of violence and suffered a great deal. We want to see a new chapter of hope and put the chapter of violence behind us". Stating that time had come for putting `our minds’ together to find durable peace in Jammu and Kashmir, the Prime Minister said "we want to open a new chapter of hope, trust and confidence."

Seeking to insulate the Central Government from the political fall-out of the arrest of Kanchi Shankaracharya Jayendra Saraswathi, he said "let me make it very clear that the Centre had no role in the arrest. The allegation that we had a role in the matter is not correct. To say the least, it is not our concern".

Asked whether the Centre would take any initiative to start a dialogue with Maoists at the national level in the backdrop of merger of People’s War (PW) and Maoist Communist Centre (MCC), Singh said the Union Government was ‘co-ordinating’ with the states on the issue.

"Andhra Pradesh Government is doing its best," he said referring to its ongoing peace talks with Naxalite groups and indicated that the State Governments were free to hold talks with Left extremists.

Asked how he would rate the performance of his Government in the last six months, the Prime Minister had a dig at the BJP and said "the issue of stability is a matter of worry for BJP than anybody else in the country".

The UPA Government, he said, had started off well and took several initiatives covering wide range of sectors including foreign policy, internal security and welfare programmes.

Without naming the opposition parties, the Prime Minister said "three to four months were wasted because we were not allowed to function and Parliament was not allowed to function."

Asked about the December deadline set by Congress’ ally Telangana Rashtra Samithi (TRS) for commencing the process to create separate Telangana state, he said the Government stand was that it would work towards achieving a ‘broad-based consensus’ on the issue.

"We have explicitly stated our position on this issue in the Common Minimum Programme. We have to evolve a broad-based consensus. We hope to achieve it," he said.

On how the Government plans to utilise the foreign exchange reserves, Singh said "there are technical issues involved in this. The Finance Ministry and RBI are discussing it. Whenever we have a broad-based consensus, we will move in that direction."

Earlier in the day, Singh launched the National Food for Work Programme (NFFWO) at Aloor village in the neighbouring Ranga Reddy district.

Later addressing a public meeting, Singh said, the scheme will be improvised in the days to come and the Centre was planning to convert it into an employment guarantee scheme to check migration to cities.

Core rural works would be taken up under the scheme which provides employment and food grains to locals in eight backward districts in the State.

Rural Development has been the thrust area of UPA’s Common Minimum Programme (CMP), he said, adding "our priority is to strengthen Panchayat raj institutions to build a strong and vibrant rural economy". (PTI)

Kashmir proposal to be discussed during Aziz visit: Pak

LONDON/ISLAMABAD, Nov 14: A day after India spoke of looking into President Pervez Musharraf’s new proposal to resolve Kashmir issue if it is made formally, Pakistan today said it would be discussed by Prime Minister Shaukat Aziz when he visits New Delhi next week.

"Our Prime Minister (Shaukat Aziz) is going to India where it will be discussed," Pakistan Foreign Minister Khurshid Mehmood Kasuri told the BBC Hindi service while responding to External Affairs Minister Natwar Singh’s statement yesterday that the proposal will be looked at only if it comes formally.

"Our President has already started a debate and there is no doubt that when we go for the next meeting we will definitely take this proposal along," he said.

Kasuri said he has invited Natwar Singh to Pakistan and then we are meeting in Dhaka and our Foreign Secretaries are also due to meet. "So opportunities are enough but the need is for clear and good intentions,"

In Islamabad, Foreign Office Spokesman Masood Khan welcomed the External Affairs Minister’s statement and said it reflected a "positive and constructive approach towards resolution of the Kashmir issue".

"We must explore ways to settle our differernces through peaceful means," he said.

Musharraf recently suggested that India and Pakistan consider the option of identifying some regions of Kashmir on both sides of the Line of Control, demilitarize them and grant them independent status or joint control or put them under UN mandate.

Emphasing that Pakistan expects India to come with an open mind and look for a solution which history will remember as a turning-point, Kasuri said "we expect this will happen. We have worked so hard in the last year that both countries should ensure we don’t go into the reverse gear in any case now."

Displaying seriousness about the proposal, he said "when Pakistan can talk about this proposal publicly then it can definitely talk about it privately too."

Asked whether it meant Pakistan is ready for joint control in certain areas, Kasuri said: "It will be improper for me to comment at this stage because if I do it, it will be attacked immediately. I don’t want to make that mistake as I have worked hard on this peace process.

"But I can certainly tell you if President Musharraf has made the proposal he must have done it thoughtfully. And it is also obvious if the President is saying this publicly we will not talk differently in private".

Kasuri also admitted that India and Pakistan are holding secret talks on Kashmir and they have been making progress.

"The good thing is that these talks are not open for journalists and photographers. We do not want people with vested interests to interrupt the process. There are too many vested interests on both sides."

He said India’s National Security Advisor J N Dixit and Pakistan’s National Security Council’s Secretary Tariq Aziz are holding these talks. (PTI)

HM militant killed in encounter
3 cops gunned down at Nadimarg

Excelsior Special Correspondent

SRINAGAR, Nov 14: Eighteen months after the Nadimarg massacre in which 24 members of Kashmiri Pandit minority community were killed, militants again surfaced in this ill fated village of south Kashmir on eve of Eid ul Fitr yesterday evening and attacked a minority Police picket killing three cops on duty.

According to sources soon after the Iftaar at 6 pm yesterday unidentified gunmen in army uniform intruded in the village and asked the policemen camping in security picket to come out.

Eight policemen were deployed in the picket and out of them four had gone for saying prayers while four were in the picket. However only three policemen came out along with their SLRs while one remained inside the picket. The cops were asked to hands up by the militants who fired upon them with the point blank range killing all of them. But all the militants managed to escape after this bizare incident.

The slain cops have been identified as Mohammed Tehseen of Palhalan Pattan in Baramulla district, Constable Farooq Ahmed of Kangan in Srinagar District and Constable Manzoor Ahmed of Tangmarg also in Baramulla district.

The fourth militant who escaped the attack threw the ammunition in near by bushes till the militants fled from the spot. Later he informed the district police Pulwama on phone after one and half an hour. A police team headed by SSP Pulwama, Viplan Kumar reached the village at 10 pm and shifted the dead to district Police line.

Later talking to Excelsior SSP Pulwama said that all the militants were in uniforms who are believed to be the members of Jaish- e- Mohammed and Lashakr -e-Toiba.

It may be recalled that during the night of April 24, 2003, a group of 24 militants attacked the village killing 24 Kashmiri Pandits including the women and children.

Though the members of the minority community had fled from the village following the carnage, a group of 10 people were still putting up there but they all had gone to Jammu to participate in the Diwali celebration and during the time of the episode no member of minority community was present in the village.

However no militant outfit has owned responsibility of the attack so far.

The incident significantly has taken place three days prior to the visit of Prime Minister, Dr Manmohan Singh to Kashmir valley.

It may be recalled that during the last two years major militancy related incidents took place in the south Kashmir.

In another incident in village Danav Kandi Marg of Kulgam Tehsil also in south Kashmir one militant was killed in an encounter with the jawans of 9 Rashtriya Rifles and police yesterday evening.

The slain militant has been identified as Ashraf Bhat son of Bashir Ahmed Bhat of Drang Shopian. Another militant, however, managed to escape. According to reports the jawans of 9 RR and police on a tip off raided the terrorists hideout in the village. They also recovered one SLR bearing number CP 6930/1977 from the slain militant which had been snatched from the police sometime earlier. Both the militants were believed to belong to Hizbul Mujahideen.

In another incident at Kohri Batpora in Kulgam tehsil one person was killed while a child was injured after a slab of newly constructed mosque collapsed at late night yesterday. The slain person was identified as 50 year old Abdul Majid Ahanger ,son of Ghulam Qadir Ahanger, resident of the Khori Batpora. The injured child was identified Rayees Ahmed Malik, son of Aijaz Malik. He has been hospitalised.

PM's package will restore peace: Farooq

Excelsior Special Correspondent

JAMMU, Nov 14: Terming the scheduled visit of the Prime Minister Dr Manmohan Singh to the State of Jammu and Kashmir as a positive step, National Conference patron and former Chief Minister, Dr Farooq Abdullah today hoped that Dr Singh’s proposed packages will help in restoring lasting peace in this violence plagued State.

In an informal chat with media persons after offering Namaz at Eidgah Ground this morning, Dr Farooq said, "scheduled visit of the Prime Minister to our State is a welcome step. It is positive development not only for the inhabitants of Jammu and Kashmir but for the country also".

Pointing towards reports said that the Prime Minister during his visit will announce some comprehensive packages for the State, the NC patron said, "inhabitants of Jammu and Kashmir have been facing hardship due to prevailing situation. They deserve a comprehensive package so that their miseries can be mitigated". "Pradhan Mantri Kay Package Say Jammu Kashmir Ke Awaam Ki Kuch Mushkilen To Kam Honge! (Prime Minister’s package will help in solving some problems of the people)", he hoped.

Replying to a question regarding announcement of the Prime Minister, Dr Manmohan Singh regarding reduction of troops, Dr Abdullah said that it was a welcome move. He, however, hastened to add that reduction of troops was a routine affair during extreme winter. National Conference patron, however,hoped that it will help in restoring confidence of the masses.

The former Chief Minister hailed Prime Minister’s announcement of reduction of forces but made it clear that there should be no compromise of protecting lives and properties of the innocent citizens. "This process should continue but security of the life and property of citizens must be given first priority", he said. Dr Abdullah did not see any reason to reduce troops from International Border (IB) or Line of Control (LoC).

The former Chief Minister refused to say anything on the performance of the Congress-PDP-JKNPP led coalition government headed by Mufti Mohammed Sayeed. "On the auspicious occasion of Eid-ul-Fitr, I donot want to say anything", he said.

Earlier, addressing the gathering after offering Eid prayers at Eidgah, Dr Abdullah hoped that this festival would usher a new era of peace and stability in the State. He prayed for the peace in the State and hoped that complete peace will be restored in the State by next Eid.

"Jammu Kashmir Main Aman Ho! Hindustan Main Aman Ho! Hindustan Aur Pakistan Ki Doste Ho, Yahi Dua Khuda Say Mangi Hai Mainey! ( I prayed for peace in Jammu and Kashmir as well better ties between India and Pakistan)", he said.

India, Pak likely to strike deal on Siachen troop withdrawal

ISLAMABAD, Nov 14: India and Pakistan are likely to reach an agreement on troops withdrawal from the Siachen glacier, a leading Pakistani daily reported.

Since the talks between the Defence Secretaries of Pakistan and India on the issue in August this year, both the sides have been using secret diplomatic channles to reach an accord on troops withdrawal from the world’s highest battlefield, official sources were quoted as saying by daily ‘The Nation’.

"This secret diplomacy has proved to be very successful in terms of results and the recent announcement from the Indian Prime Minister Manmohan Singh to reduce troops in Jammu and Kashmir is a concrete evidence of the fact," they said.

They said the Defence Secretaries of the two countries along with military officials would now meet again to sort out the details of troops withdrawal to the 1972 positions that were identified by the two sides when they clinched the Shimla agreement.

"The Foreign Secretaries will also deliberate upon this matter in their proposed meeting most likely to be held on December 21-22 and they would decide about the dates for the Defence Secretaries’ meeting," an official said.

The two Defence Secretaries in their talks in August decided to continue with the talks on the Siachen issue.

Pakistan and India will also exchange "non-papers" comprising workable proposals to resolve the Kashmir issue in order to enable the Foreign Secretaries of the two countries make a headway on the issue, diplomatic sources said here.

The exchange would take place in a mutually agreed time-frame, the sources said adding structured talks between Foreign Secretaries of the two countries would be the best forum for formal discussion about any proposal to find a viable solution to the issue.

Meanwhile, talks on narcotic trafficking and eradication of the menace of drugs scheduled towards the end of the month here have been called off as India has to take part in another international commitment on the subject during the same dates, the sources were quoted as saying by ‘The News’ daily.

On the Baglihar hydropower project, an official told the media that Pakistan will take a decision on November 8 for moving neutral experts or seeking a bilateral solution to the issue of construction of the project by India on the Chenab river.

The decision will be taken at a high-profile meeting called by President Pervez Musharraf. (PTI)

CM faces hostile crowd, whisked away during Eid prayers

Excelsior Special Correspondent

SRINAGAR, Nov 14: Chief Minister Mufti Mohammed Sayeed, who visited historical Hazratbal shrine to offer Eid prayers today, faced hostile crowd in the Shrine and was whisked away by his security personnel.

Mufti Sayeed was among nearly 50,000 people who had gathered for Eid prayers at the Shrine, where holy relic of the Prophet is kept. During the prayer when the Chief Minister was about to address the gathering, some youth raised slogans against him and in the meantime, the public address system failed in the midst of prayers. Some people started raising slogans against the State Government and the Chief Minister after mikes went off.

Taking opportunity of the situation, chairman of Jammu and Kashmir Democratic Freedom Party (JKDFP) Shabir Ahmed Shah, along with some of his supporters stood up. They raised the issue of Handwara episode and demanded that Chief Minister should own the moral responsibility for this heinous crime. Some of the youth raised anti-government and pro-Azadi slogans.

As the situation turned tense, security personnel took away the Chief Minister immediately from the back gate, fearing crowd might resort to ugly scene. Many people were left wondering as to what was happening because they could not hear the Imam and had to stop their prayers half way through, official sources said.

Though many left the premises without completing Eid prayers, a group of around 5,000 people re-assembled later to offer fresh prayers, the sources added.

The people, mostly coming from the opposition National Conference stronghold, were also unhappy with the arrangements at the Shrine for which they held the Chief Minister responsible, the sources said.

Mufti Sayeed is the Chairman of Muslim Auqaf Trust, which manages most of the shrines in Jammu and Kashmir including the historical Hazratbal shine.

Kashmir situation worsening: Advani

AMRITSAR, Nov 14: Claiming that the situation in the Kashmir valley was getting from bad to worse, former Deputy Prime Minister L K Advani today said time alone will tell to what extent Prime Minister Manmohan Singh’s decision to reduce troops in Jammu and Kashmir bears fruit.

"The situation in the Valley is already going from bad to worse. Even the BJP has passed a resolution in the past over the deteriorating law and order situation in the State. Now, time alone will tell us to what extent the latest proposal bears fruit," he told reporters here.

Advani said he has received an invitation from Pakistan and would be visiting the country after the winter session of Parliament.

"I received an invitaion from the Pakistan Government which I have accepted. I plan to go to Pakistan after attending the winter session of the Parliament," he said.

About Pakistan President Pervez Musharraf’s October 25 formulation on Kashmir, Advani said the BJP will not be able to comment on this as a formal proposal to this effect was not received till now.

The BJP president attributed the present thaw in Indo-Pak relations to the initiative taken by the NDA Government and a joint statement by former Prime Minister A B Vajpayee and Musharraf in January this year.

"The initiative which was taken by the NDA regime to resume peace dialogue with Pakistan has started bearing fruits, which has now enabled the UPA Government to proceed further to establish better relations with Pakistan," he said. Advani expressed concern over the alleged deterioration of law and order situation in the north-eastern states.

He said the Congress led Government should not go beyond the resolutions passed in the Parliament and "we expect that the resolutions passed in the Parliament should be adopted in letter and spirit". (PTI)

Hurriyat hails Natwar's statement

SRINAGAR, Nov 14: Welcoming Union External Affairs Minister Natwar Singh’s statement that the Centre would consider Pakistani President Pervez Musharraf’s recent proposal on Kashmir, the moderate faction of Hurriyat Conference today said India and Pakistan had made a good beginning on the right track.

"Hurriyat Conference welcomes Singh’s statement that Government of India will consider Musharraf’s recent proposal on Kashmir. India and Pakistan have made a good beginning on the right track (to resolving the Kashmir issue)", chairman of the amalgam Mirwaiz Umer Farooq told an Eid congregation at Jamia Masjid here.

The Mirwaiz urged the Centre to show more "flexibility" in its approach towards finding a durable solution to the issue.

"We hope that the UPA led Government would be more flexible in its approach and consider all proposals for resolution of Kashmir issue including the ones contained in the Hurriyat roadmap", he added.

Farooq said he hoped that Hurriyat leadership would be allowed to visit to Pakistan to carry forward the peace process in the State and enhance the confidence among the people of the State about the Centre’s sincerity towards resolving the Kashmir issue.

He also demanded the immediate release of all political prisoners.

Mirwaiz prayed for the peace and prosperity of India, Pakistan and the State. (PTI)

Musharraf should continue in uniform: MQM

NEW DELHI, Nov 14: Pakistan’s Muttahida Quami Movement (MQM) leader Altaf Hussain feels that President Pervez Musharraf should continue as the country’s Army Chief to carry on the "war" against terrorism, Al-Qaeda, Taliban and other religious fundamentalist elements.

"If he (Musharraf) gives up his uniform, then his position will become weak and he will not be able to do what he is doing now against terrorism, Al-Qaeda, Taliban, so-called `Jehadis’ and other religious fundamentalist and fanatic parties," said Hussain, who was here to attend Hindustan Times leadership initiative conference.

Self-exiled in London since 1992, 51-year-old Hussain, a bitter critic of the regimes of former Prime Ministers Nawaz Sharif and Benazir Bhutto said, he had to leave Pakistan and continue his fight for the cause of the ‘Mohajirs’ (Muslims who migrated from India to Pakistan) from abroad as several assassination attempts were made on him with the "connivance and knowledge of the authorities in my country".

He, however, said "now there is commonality between the policies of MQM and General Musharraf who is an ally of the international community against the war against terror. We are also lending moral support to this war."

In a wide-ranging interview, Hussain made a strong plea to the Indian and Pakistani Governments to set up a rail link between Khokrapar in Sindh and Munnabao in Rajasthan to allow Muslim families, who were divided at the time of partition of the sub-continent, to meet.

Hussain also appealed to New Delhi and Islamabad to reopen their consulates in Karachi and Mumbai as the poor people from the two countries were facing a lot of problem in getting visas to visit their relations.

"With composite dialogue between India and Pakistan progressing, the two sides should ease visa restrictions to allow greater people-to-people contact which would help in furthering relations between the two countries," he said.

The divided Muslim families, the MQM leader said, now have to travel all the way to Islamabad or New Delhi to get visas. "With the reopening of the consulates, the difficulty in getting travel documents will ease".

Asked as to when does he proposed to return to Pakistan after having established telephonic contact with Musharraf and also some top officials of the Pakistan Government who visited him in London, he said "I would love return to my people in Pakistan but my life is still in danger....

"There have been assassination bids on the life of General Musharraf. I wonder what will happen to me in case I go back. I do not have any plans to return to Pakistan in the near future," he said.

Observing that his MQM party was against any kind of military intervention in governance, wanted abolition of the feudal system in Pakistan and stood for "true" democracy, Hussain said "the Central Coordination Committee of MQM had to choose between religious fundamentalists and fanatic elements like the Jamaat-e-Islami or the feudals and General Musharraf who is a liberal and intelligent man and is taking steps according to the needs of time".

Hussain recalled that after the October 2002 elections in Pakistan, "some officials of the powerful Pakistani establishment met me in London and a new era of friendship, which is honourable, started. I have talked several times to General Musharraf on telephone".

Maintaining that he wanted India and Pakistan to establish friendly ties and resolve all issues through dialogue, he suggested that the Line of Control (LoC) should be "temporarily" taken as the International Border between the two countries to facilitate the dialogue process.

"Joint patrolling should be undertaken by both sides to ensure that there is no infiltration across the border. For the time being, the portion of Kashmir which is under Pakistan should remain under Pakistan and that under India should remain under India," he said.

At the same time, Hussain, said "I am not against the option of an independent Kashmir".

During his stay here, Hussain has met External Affairs Minister K Natwar Singh, former Prime Ministers Atal Bihari Vajpayee and I K Gujral and leader of the opposition L K Advani. (PTI)

BJP, VHP attack Kanchi seer’s arrest

NEW DELHI, Nov 14: The arrest of Kanchi Shankaracharya Jayendra Saraswati today came under attack from BJP and VHP but was hailed by CPI-M and CPI which wanted the Tamil Nadu Government not to give in to pressure in the murder case.

Janata Dal (U), an ally of BJP, however, declined to join the saffron party’s reservations over the issue with senior party leader Sharad Yadav saying "no one is above the law".

BJP president L K Advani told reporters in Amritsar that the decision to arrest the seer appeared to have been in "haste" or "under pressure."

"The Supreme Court has set certain guidelines on whom to arrest or whom not to arrest for what offence. It seems that the decisions (in Shankaracharya case) taken are either hasty or taken under pressure," Advani, who is also leader of the opposition, said.

The CPI-M said the State Government should not give in to pressure and allow law to take its course in the case. In a statement, it emphasised that it was not a religious matter.

Echoing similar feelings, CPI secretary D Raja said BJP and VHP should desist from "communalising" the issue as such an action would not have been taken without strong prima facie evidence.

Senior VHP leader Giriraj Kishore threatened that saints from Haridwar would stage a demonstration in front of Parliament on Tuesday if the Shankaracharya was not granted bail by that time. (PTI)

BJP to reaffirm commitment to ideology

NEW DELHI, Nov 14: The BJP is expected to reaffirm its commitment to both its ideology and the NDA’s agenda for governance at the meeting of the opposition alliance here tomorrow.

The meeting, to be held at the residence of former Prime Minister Atal Behari Vajpayee, has been called at the instance of JD(U) which has sought a clarification from the saffron party in the wake of BJP president L K Advani’s recent public statement reiterating his party’s commitment to construction of a grand Ram Temple at the disputed site in Ayodhya.

"We don’t question any party’s ideology. Why should anybody question our ideology? we are committed to NDA’s agenda for governance and floor co-ordination with our allies in Parliament," BJP deputy leader in Lok Sabha Vijay Kumar Malhotra said.

Besides Vajpayee and Advani, the BJP would be represented in the meeting by Malhotra and the party’s leader in Rajya Sabha Jaswant Singh.

The strategy of the opposition alliance in the upcoming winter session of Parliament is also expected to figure in tomorrow’s meeting to be attended by leaders of Shiv Sena, Biju Janata Dal and Akali Dal among others, Malhotra said.

At its national executive meeting in Hardwar last week, the rss had claimed that the BJP had given it an assurance on returning to its Hindutva ideology in the wake of the party’s poor performance in the Lok Sabha and Maharashtra Assembly elections.

However, former party chief M Venkaiah Naidu had said that the deliberations with the RSS leaders would be discussed in the party fora and a response would be formulated accordingly. (PTI)

Eid Holiday today

Excelsior Special Correspondent

JAMMU, Nov 14: The State Government late tonight announced Eid-ul-Fitr holiday for tomorrow.

All the Government, semi-Government offices and educational institutions will remain closed on November 15, said Divisional Commissioner Jammu.

JK Bank plan to revive 2 branches in PoK hits roadblock

NEW DELHI, Nov 14: The plan of Jammu and Kashmir Bank to revive the operations of its two branches in Pakistan-occupied Kashmir has hit a roadblock, literally, pending the opening of road between Srinagar and Muzaffarabad (PoK).

"J and K bank planned to reopen the branches in Muzzarfarabad and Mirpur in PoK as we thought the road will open between Srinagar and Muzaffarabad. But that has not happened.

"Unless the Governments reopen the road and unless there is movement of people, we will not be able to resume operations there," Jammu and Kashmir Bank Chairman and CEO M Y Khan said here.

"Once that happens, the bank can go ahead with the plans. Everything depends on relations between India and Pakistan. The two Governments are very serious about it. We are hoping some announcement on this very soon," he said.

After that, the bank will approach the Reserve Bank of India (RBI) and the Pakistan Government for re-starting operations in PoK, he added.

The bank was incorporated on October 1, 1938 and commenced business from July 4, 1939. Around the time of Independence, out of its ten branches then, the Muzaffarabad and Mirpur fell to PoK along with cash and other assets.

The Jammu and Kashmir Bank is the only bank in the country where the State Government holds equity. The Jammu and Kashmir Government holds 53 per cent stake in the bank and has also appointed it as its banker for general banking and treasury business. (UNI)
 
 
 
 

 

 

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