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Insurance employees oppose hike in FDI

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Insurance Protest ff
STATE TIMES NEWS
JAMMU: Employees Life Insurance Corporation (LIC) and General Insurance Corporation (GIC) of India on Monday under the banner of North Zone General Insurance Employees Union held a protest in front of LIC Head Office here against the ordinance issued to hike the FDI in insurance sector from 26 per cent to 49 per cent.
The LIC employees were represented by Com. Pawan Gupta, Divisional Secretary, NZIEA J&K and Com. A.M.Tantray, President of the Association and GIC employees were represented by Com. Dileep Koul General Sec GIEU J&K.
Romesh Chand lambasted on the NDA government for this anti-nation move and said that allowing hike in FDI in insurance sector would help the international finance capital to gain greater control and access over the domestic savings of the Indian public.
Divisional Secretary NZIEA, Pawan Gupta contradicted the logic of the NDA government that more capital, which will come through FDI, will help in bringing more business in insurance sector because in insurance sector more capital does not mean more business.
Expressing resentment over a move towards privatization, Pawan said the insurance employees will continue their struggle and will go for a one day strike if the Insurance Laws Amendment Act 2008 gets passed in the parliament.
A large number of insurance employees participated in the Demonstration programme both at Jammu and at Srinagar.
Others who spoke on the occasion were Rajesh Gupta Joint Secretary NZIEA Srinagar Division; S.K Bhat Vice President NZIEA Srinagar Division; Raj Kumar, Dinesh Sharma, Nanak Chand, Neelam Sharma.
Similar protest was held at Srinagar which was addressed by H.U Koul Joint Secretary NZIEA Srinagar Division; Javed Ahmed Bukhari Vice President NZIEA Srinagar Division and Hilal Ahmad Treasure NZIEA Srinagar Division.
Protest was led by Vijay at Kathua, Tilak at Samba, Jagdish at RS Pura, Ravinder at Udhmpur, Khaliq at Rajouri, Amit at Poonch and Ram Raj at Doda

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