Excelsior Correspondent
JAMMU, Nov 15: One day convention was organized by LIC and GIC employees under the banner of All India Insurance Employees Association against Government’s move for increasing FDI in Insurance sector from 26 % to 49% by amending the Insurance laws Amendment Bill 2008.
The convention was presided over by Dileep Koul, general secretary, GIEU, J&K. The chief guest in the convention was R C Sharma, president Northern Zone Insurance Employees Association. The convention was attended by the conscious citizens of the State and various State Union leaders of different organizations. The convention was addressed by comrade R C Sharma, Comrade Dileep Koul and Comrade Pawan Gupta, Divisional Secretary, NZIEA, J&K.
The leaders of the organization while opposing the BJP led NDA Government at Centre in its 4 months rule continued to pursue the neo liberal economic policies which is anti-people and anti-employees. The global financial meltdown and the consequent economic crisis vindicate our understanding. The two major argument of the Government in favour of increase in the foreign equity limits wherein the private insurance companies are starved of funds and it has become inevitable to increase the FDI limit and increase in the FDI limit will help deepening the insurance market and increase the level of penetration.
The criticism on insurance penetration is not correct, though is a great possibility to improve. Various speakers expressed their views who were Sham Prasad Kesar, Regional Secretary CPI(M)J&K, Anil Vaid(BEFI), Arun Gupta(AIBEA), Ved Prakash Sharma(AIIPA) among others.
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