Excelsior Correspondent
JAMMU, Oct 9: State Cabinet, which is meeting under the chairmanship of Chief Minister, Omar Abdullah at Civil Secretariat, Srinagar tomorrow afternoon, is likely to give its consent for 100 % hike in the allowances of the members of the State Legislature besides according approval to the bail out package for three Cooperative Banks.
Official sources told EXCELSIOR that Department of Law, Justice and Parliamentary Affairs is going to place a resolution before the State Cabinet for amendments in Jammu and Kashmir State Legislature Act in order to concede the demands of the Legislators projected before the Chief Minister earlier this year.
“The Cabinet is likely to give approval to the amendments in the Salaries and Allowances of Members of Jammu and Kashmir State Legislature Act, 1980 to increase daily allowance of Members for attending the sittings of the House and its Committees from existing Rs 500 to Rs 1000”, sources said.
It will also accord approval to the amendment in Jammu and Kashmir State Legislature Members’ (Appointment of Personal Assistant) Rules, 1988 to increase the monthly remuneration of PAs from Rs 3000 to Rs 5000, Traveling Allowances (Members of J&K State Legislature) Rules, 1999 to increase the existing ceiling of traveling allowance from Rs 50,000 to Rs 1,00,000, sources disclosed.
They said that the Housing Loan (to the members of J&K State Legislature) Rules, 1988 and Motor Car Advance (to the members of J&K State Legislature) Rules, 1987 are also being amended to provide that advance, both house building and car along with interest, will be recoverable in installments not exceeding 72 and in case the amount of advance along with interest is not liquidated during the tenure, the amount of installments shall be fixed at such rate as to restrict the number of total installments within 72 only.
Sources said that Cabinet would also discuss and accord approval to the recapitalization of Anantnag, Baramulla and Jammu Central Cooperative Banks as per the directions of the Reserve Bank of India.
“The recapitalization of these banks is imperative not only to bail them out of the financial crisis but also pave the way for their securing licensees from the Reserve Bank of India”, sources said while disclosing that an amount of Rs 26.43 crore is required as one time grant or as loan so as to meet the requirement of getting license for Baramulla Central Cooperative Bank.
Similarly, an amount of Rs 187 crore would be required as one time grant or loan so as to meet the requirement of getting the license from the RBI for Jammu Central Cooperative Bank.
Sources disclosed that Cabinet would also accord approval to the creation of 165 posts of different categories for restructuring and unbundling of Jammu and Kashmir Power Development Department besides appointment of A K Razdan, Collector, PDD to the Administrative Service and appointment of Rifat Arif, Deputy Director, ICDS, Social Welfare Kashmir to the time Scale of KAS.
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