Vijayawada: LIC employees oppose LIC IPO

Vijayawada: South Central Zone Insurance Employees Federation (SCZIEF) general secretary TVNS Ravindranadh said that All India Insurance Employees Association was opposing the LIC Initial Public Offer (IPO) decision tooth and nail and called for stepping up the campaign against LIC IPO.

While delivering inaugural address at 53rd general conference of Insurance Corporation Employees Union at Repalle on Tuesday, he also said that AIIEA has been continuously demanding withdrawal of GST on insurance premiums, which are hard-earned savings of people. "It is objectionable to impose GST on mobilisation of savings that would hamper the business of LIC of India," he noted.

Senior Divisional Manager P Suryanarayana Rao highlighted the marvelous achievements won by LIC of India Machilipatnam Division.

SCZIEF Joint Secretary G Kishore Kumar exhorted the audience to step up the campaign against LIC IPO in every nook and corner of the country. The conference passed five resolutions including rollback of decision on LIC IPO, withdrawal of GST on insurance premiums, to stop privatisation of public sector, to stop privatisation of Vizag Steel Plant and to oppose amendments to labour laws.

South Central Zone Insurance Employees' Federation leaders G Kishore Kumar, G Tirupataiah, R Srinivasan, senior divisional manager P Suryanarayana Rao, Mopidevi Srinivasa Rao, chairman, Reception Committee and noted industrialist from Repalle Katta Manga, chairperson Repalle Municipality, ICEU Visakhapatnam Divisional General Secretary G Varaprasada Rao were the guests at the conference.

The conference unanimously elected president J Sudhakar, vice-presidents S Prasad, KV Lu and NMK Prasad, general secretary G Kishore Kumar, joint secretaries Dr Ch Kaladhar, VVK Suresh, L Anand and T Chandrapal, Treasurer L Rajasekhar and Asst Treasurer J Madhu.