JDIEU stages demos against Centre’s policies

Source: The Hitavada      Date: 12 Oct 2017 11:16:22


Staff Reporter,

MEMBERS of Jabalpur Division Insurance Employees’ Union (JDIEU) staged demonstration against conspiracy of the Central Government to allegedly weaken public sector insurance companies before LIC Divisional Office on Wednesday.

During the demonstration, representatives of insurance employees charged that the Government has sold out IPOs of public insurance companies to collect amount of Rs 72,500 to minimise its deficit upto 3.2 per cent. The Government has decided to collect budget of Rs 11,000 crore from public sector general insurance companies to weaken them. NITI Commission has listed a total of 74 public sector companies for disinvestment.

Public sector insurance companies were established with three fundamentals of providing insurance to utmost population, providing insurance benefits to general public on nominal rates and developing insurance business in the market. Four public sector insurance companies have successfully achieved these targets in last 46 years.

Despite giving open hands to private and foreign companies in insurance sector, public sector companies have share of 52 per cent and registered growth of 27 per cent in previous financial year.

Selling any small part of Public Sector Company to private insurance company will divert attention of customers towards private investor company. All India Insurance Employees’ Association is fighting against privatisation of public sector insurance companies since 23 years and united to stop the Government in its conspiracy. A grand demonstration of insurance employees will be staged against sharing IPOs of public sector insurance companies in Delhi on November 11. During the demonstration, insurance employees representatives N Chakrawarty, Vice-President Vijay Malajpure, General Secretary Vandana Choubey addressed the employees.