Pranab Mukherjee, India’s Finance Minister has guaranteed a delegation of Jammu & Kashmir Member of Parliaments (MPs) that govt. will counter World Bank’s disclaimer phrase (clause), which was done in returning back loan of 740 crore rupees which was approved for state’s watershed project.

State Govt. was asked from Bank about an undertaking that matter of loan should not be treated as certification that this territory full of disputes was an essential part of India. [smartads]

Pranab told that this time isn’t the 1st instance that an international agency had placed some conditions for loan approval. Jammu & Kashmir forest minister Altaf Mian told that he made certain, the state govt. that Centre will clear out the matter right away.

Jammu & Kashmir’s forest minister lead 6 member delegation, they met Pranab on Thursday at his North Block office & they informed him that Bank has stopped payment of approved loan & even they had brought new conditions.

Even earlier China had opposed to an Asian Development Bank loan in AP (Arunachal Pradesh) looking to postpone the loan as that was “disputed territory.”

Those who are in Finance Ministry’s Department of Economic Affairs who are dealing with this matter, they didn’t spoke about the matter. Although Finance Secretary has gone out of the town, the Finance Ministry’s spokesperson told he would definitely get back.

J & K Forest Minister Altaf Mian told that, “We have carried the issue to Finance Minister’s notice & he even guaranteed that in less time, the Centre will clear out the matter with the Bank.”