The Jammu and Kashmir Legislative Assembly today passed a Bill to amend the Jammu and Kashmir Electricity Act, 2010, to pave the way for setting up of the J-K State Power Trading Company Ltd.
The Bill was moved in the House by the Deputy Chief Minister Nirmal Singh and after a thorough discussion it was passed through voice vote.
Legislators, Mubarak Gul, Nawang Rigzin Jora, Devender Singh Rana and Mohammad Yousuf Tarigami took part in the discussion and gave their suggestions.
The House also passed a Bill to amend the J&K Protection of Interests of Depositors (in Financial Establishments) Act, 2018.
The Bill is aimed at protecting the interests of the depositors in the financial establishments of the state.
Explaining the statement of objects and reasons of the Bill, Finance Minister Haseeb Drabu said the existing Jammu and Kashmir Protection of Interests of Depositors (In Financial Establishments) Act lays down various measures for protection of interests of depositors in the financial establishments in the State.
The minister said that the proposed Bill intends to amend and update the laws on the subject, with better and stringent provisions, for protecting the interests of depositors.
Earlier, the Bill was introduced in the Legislative Assembly by Minister for Rural Development, Panchayati Raj, Law and Justice, Abdul Haq Khan on behalf of Drabu.
After thorough discussions, the Bill was passed through voice vote.
The Bill was later also passed by the Upper House also where it was moved by Khan.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)