Visakhapatnam: Two-hour walk out strike against IPO of LIC

Visakhapatnam: Insurance Corporation Employees' Union of LIC of India of Visakhapatnam division, affiliated to All India Insurance Employees' Association (AIIEA), took out a two-hour walk out here on Wednesday to protest against the IPO of LIC.

Addressing the gathering on the occasion, CITU AP state committee leader Ch Narasinga Rao said that the government's policies were much against the people. The All India Insurance Employees' Association (AIIEA) opined that IPO is the first step towards privatisation of the LIC. They felt that it was a serious breach of trust with the millions of policyholders and citizens of the country who have supported LIC for years. They pointed out that the government is moving ahead with its proposal without taking the opinion of the 42 crore policyholders, who form a part of the majority of stakeholders.

The IPO will undermine the very foundational objectives of the LIC which has become an inseparable part of the economy and national development during the last 65 years of its glorious existence, the AIIEA members said.

Employees from all branches participated in the strike. Slogans were raised. Com G Varaprasad, General Secretary also addressed the dharna. The dharna was presided over by M Kameshwari, president of ICEU. The leaders from LIC Class I Association, NFIFWI, LIC agents' associations, LIC employees SC/ST association, LIC OBC employees association extended support to the dharna.