Excelsior Correspondent
JAMMU/SRINAGAR, Mar 18: Continuing their struggle to demand conclusive negotiations on wage revision due since August 1, 2017 and also against IPO in LIC, work was totally paralysed in LIC offices as its employees observed one day strike today under the banner Joint Front of LIC Class-1 Federation, National Federation of Insurance Field Workers of India and All India Insurance Employees’ Association in offices of LIC of India across Jammu & Kashmir.
The demonstrations were jointly led by Vijay Khajuria- secretary Class-1 Federation Srinagar Division, Rakesh Magotra- secretary National Federation of Insurance Field Workers of India Srinagar Division and Pawan Gupta- secretary Northern Zone Insurance Employees’ Association Srinagar Division.
Speaking on the occasion at DO Cell, Rail Head Complex Jammu, the leaders said that LIC employees strongly oppose the proposed privatisation of LIC through the sale of its shares and increase in FDI limit for insurance sector to 74% from 49%. They said privatisation of LIC is an anti-worker, anti-people and anti-social step.
They said with the privatisation of a PSU, hundreds of workers were getting thrown out of their jobs. Privatisation has also led to higher and higher use of contract workers who are employed at one-third to one-fourth the wages of regular workers. They pointed out that security of policy holders’ money deposited in LIC as premium, is most important for people of the country.
“After private insurance companies entered the field, insurance services have become much more expensive. They are interested in providing life insurance cover to the more affluent sections of society neglecting the needs of the ordinary working people. Increase in the FDI limit to 74% will give control of LIC to foreign insurance monopolies. Putting savings of Indian people at the disposal of foreign capitalists for maximising their profit instead of maximising welfare of Indian people is an anti-national and anti-social step. Hard earned money of policyholders can never be safe in the hands of foreign companies,” they added.
Along with privatisation of public sector insurance sector, the Central Government has declared an all out war on all public sector enterprises and wants to hand over the precious assets built with Indian people’s money and sweat to private monopolies, both Indian and Foreign, they said.
LIC employees expressed strong resentment over inordinate delay in the settlement of their wage revision that has been due since August 1, 2017 and demanded immediate conclusive negotiations on wage revision.
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