Hyderabad: Saifabad LIC employees oppose privatisation move

• Threaten to give a call for 'Chalo Parliament' if the proposal is not dropped

• Allege attempt being made to weaken LIC which has assets worth Rs 32 lakh cr

• 1.2 lakh staff, 11 lakh agents & 30 cr policyholders urged to oppose 'conspiracy'

Saifabad: Members of the All-India Insurance Employees' Association, LIC Class I Officers' Association and All-India LIC Agents' Association on Tuesday held a lunch-hour demonstration at LIC office here, opposing private investments in the organisation and demanding withdrawal of the move.

Addressing the demonstrators, president of the employees' association Ramesh demanded that the Centre drop its 'anti-people' policies. He found fault with the move to permit private investment in LIC which is earning profits in crores, while pointing out that it was like backbone of the country's financial set-up.

Ramesh alleged that an attempt was being made to weaken the LIC which has assets totaling Rs.32 lakh crore. He called upon the 1.25 lakh employees, 11,91,000 insurance agents and 30 crore policy-holders to oppose the alleged conspiracy to weaken the organisation. The employees' association leader threatened to give a call for 'Chalo Parliament' rally if the proposal for private investment in LIC was not dropped.

The leaders who joined the protests included Muthuswamy, joint secretary, All-India LIC Employees' Federation, leader Climon Das, N Adish Reddy, general secretary, Hyderabad division, LIC Employees' Union, Singarapu Srinivas, president, All-India Agents' Association, besides Srinivas Chary.