All India Insurance Employees Association (AIIEA) general secretary Srikanth Mishra stressed the need for insurance employees to fight collectively against the government’s decision of listing Life Insurance Corporation in the stock market.
Mr. Mishra along with AIIEA president V. Ramesh, treasurer B.S. Ravi and others inaugurated the 12th General Conference of the South Central Zone Insurance Employees’ Federation (SCZIEF) in Vijayawada on Saturday. It is a two-day programme aimed at opposing Initial Public Offering of LIC, FDI hike in the insurance sector and privatisation of the public sector in general.
Mr. Mishra said the government which is promoting ‘Atma Nirbhara Bharat’ has amended the General Insurance Business Nationalisation Act, 1972 to privatise general insurance companies and public sector companies such as LIC and Visakhapatnam Steel Plant. “We have to fight collectively against the disastrous policies of the government,” he said.
MLC K.S. Lakshman Rao said it is only possible for people to get social and financial justice when the industries such as insurance- and banking- are in the public sector. Only then India will achieve self-reliance but the BJP government is only pursuing privatisation of the public sector. Such policies can destabilise the economy, he said and called upon the employees to fight and safeguard LIC which is the world’s best insurance company in claims settlement. SCZIEF vice-presidents P. Satish, S.K. Geetha and Md. Mehboob and others were present.
