Vijayawada: Centre's move to divest its stake in LIC will hurt policyholders

Vijayawada: Leaders of various people's associations, unions unanimously condemned the move of the Central government divesting its stake from the government-owned Life Insurance Corporation of India which would be detrimental to the 40 crore policy holders, the employees and the agents of the LIC who have been working hard to build the massive corporation over the years. It may be recalled that the government has set in motion a process to sell a portion of its stake in the LIC.

The members of the All India Insurance Employees Association while addressing the roundtable organised at the NGO Home here on Sunday demanded the withdrawal of the tender process. They appealed to the Central Government to withdraw its decision of disinvestment in the LIC.

Dr Ch Kaladhar, joint secretary of the Insurance Corporation Employees Association said the AIIEEA has decided a plan of action and is implementing several forms of agitation and mobilising the support of the people, the MPs of both Lok Sabha and Rajya Sabha and decided to go on one-day strike if the LIC listing process is declared, in order to protect the LIC.

G Kishore Kumar, the Joint Secretary of the "South Central Zone (Comprising 3-States of Andhra Pradesh, Telangana and Karnataka) Insurance Employees' Federation (SCZIEF)" along with several leaders from 25-fraternal trade unions from different sectors and unions including AP Urban Citizens Forum convener Ch Babu Rao, NGOs association, West Krishna president Vidya Sagar, AP Medical Reps Union – Krishnaiah, banking union leaders – Ajay Kumar, YSrinivas, Sesha Sai, Ranga Rao, GMuralidhar, Ramana, BSNL Employees Union – Rama Devi, All India Lawyers Union, SSrinivasa Rao, BSNL Pensioners Association Leaders, KSCBose, Chandrasekhar, LIC Cl-I Officers' Association – Kotesh Babu, LIC Development Officers' Union – VPrathap, LIC Agents Union – Ramachandra Rao, ICREA leader MNPatrudu, All India Loco Running Staff Association M Ramakrishna, United Electricity Employees' union - GIC leader Krishna Murthy, Tax Payers' Association – MV Anjaneyulu, CITU leader Sudhakar, was present at the roundtable held at NGO Home, Vijayawada as part of the campaign and agitation against the LIC Disinvestment/Initial Public Offer (IPO).

Insurance Corporation Employees Union (ICEU), Machilipatnam Division (Krishna and Guntur districts) leaders DrChKaladhar, NMKPrasad, JMadhu, Vijayawada branch leaders NSrinivas, GSrinivas, PhKPrasad, MPGovardhana Rao and others participated.