Warangal: LIC employees slam Centre

Warangal: The staff owing allegiance to Insurance Corporation Employees' Union (ICEU), Warangal Unit, and other unions criticised the Union government for its move to sell a part of its shares in the State-run Life Insurance Corporation of India (LIC) through an initial public offer (IPO).

In one-hour protest at the Divisional Office here on Tuesday, the employees found fault with Finance Minister Nirmala Sitharaman for proposing to sell a part of government's holding in LIC through IPO in her Budget 2020-21 speech.

Speaking on the occasion, ICEU General Secretary G Jagadeeshwar said that if the LIC is listed as part of the government disinvestment initiative, it could affect 40 crore policyholders, besides affecting crores of others indirectly. He alleged that the BJP is trying to fill the coffers of private players by disinvesting public sector units (PCUs). He criticised the Prime Minister Narendra Modi for supporting the corporate houses.

Class-I officers Association Secretary K Sampath said that Centre's decision would affect the LIC's business. LIC SC/ST Employees Welfare Association President K Kishan and general secretary T Ashok alleged that the Centre's trying to dilute the PCUs. They also referred BSNL and Air India and stated that Modi government is more concerned about the corporate houses rather than the welfare of the common man.

NFIFWI Secretary Ch Sunil Reddy, leaders K Nagabhushanam, Sadath Ali, K Vinod Kumar, S Sandhya, D Ramchander, Nixon Raj, S Swamy and scores of employees participated in the one-hour protest.