Kamareddy: Don't sell shares in LIC, staff appeals Centre

Kamareddy: The Central government's decision to sell a part of its shares in LIC is a loss to the development of the country, said Krishna and Janardhan, president and general secretary of district Insurance Corporation Employees Union (ICEU). LIC employees participated in an hour-long strike in front of the LIC office here on Tuesday.

Union leaders Vamshikrishna, Janardhan, Venkatesham, Bhaskar, Sridhar and others, who participated in the protest, said that budget, introduced by Union Finance Minister Nirmala Sitharaman on Saturday, is a progressive deterrent and like a death sentence to public sector organisations.

Krishna and Janardhan demanded the Centre withdrawal of the stock market proposal, which has been vehemently opposed by the All India Insurance Association, the largest employee union of life insurance.

ICEU Kamareddy employees, class-1 officers and class-2 development officers participated in a nationwide strike from 12-15 pm to 1-15 pm on Tuesday against the Central government's decision. The federation of agents also supported the strike.

AIIEA-affiliated Insurance Corporation Employees Union, Kamareddy branch president Vamsikrishna, secretary Janardhan and other executive members said at a press conference at LIC has been in India for the last 68 years. They urged the Central government to protect such a large and oldest financial institution and stop the introduction of the stock market.