‘Couldn’t hold it earlier as there were some formalities involved; J&K Bank pulled out of debt, now a profit earning Institution of UT’
Srinagar, Oct 31 (KNO): Jammu and Kashmir’s Lieutenant Governor Manoj Sinha Thursday said that the administration is committed to hold the Panchayat polls as soon as possible as the same couldn’t be held due to some formalities involved.
“There was a need to include backward class for reservation in Panchayats under the State Re-Organisation Act. We couldn’t hold the polls earlier but we are committed to hold Panchayat polls soon after all formalities are completed,” the LG said addressing the UT Foundation Day function at SKICC, as per news agency—Kashmir News Observer (KNO).
He also said peace, stability, rule of law and time-tested democratic values make J&K UT an attractive investment destination. “The confidence of investors in Jammu Kashmir is reflected in the highest ever inflows of investment in the past four years,” he said and reiterated his commitment for the extension of the new industrial development scheme in J&K. “Time is not far when the flow of investment would touch to Rs one lakh crore which will also create ample opportunities for the youth,”
About the achievements registered in the Banking sector, the LG highlighted that the J&K Bank is one of the greatest turnaround success stories of the UT. “In 2019-20, the bank has reported a loss of Rs.1139 Cr. It reported a profit of Rs. 1700 Cr in the year 2023-24. In current FY, J&K Bank clocked Rs. 991 Cr in profit,” he added.
The LG called upon the people to remain united, identify and isolate anti-national elements and those disrupting the peace.
“My dream is to see that every family is prosperous. My dream is to see Faster development of the infrastructure, industries and fruits of growth reach the last person in the queue,” he said—(KNO)
