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Strike and Picket on 4 February, Protesting Selling Government Stake in LIC

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LIC is the largest insurance company in the country. LIC owns about three-fourths of the country’s life insurance market. On Saturday, during the presentation of the budget, Finance Minister Nirmala Sitharaman announced that the government is going to sell its stake in LIC. For this, the government is bringing an IPO.

Employees have strongly opposed the government’s decision to sell a stake in the Life Insurance Corporation of India (LIC). LIC employees are going on a nationwide strike on 4 February to protest against the government’s proposal. However, this strike will be for one hour only. After this, employees will perform.

On Saturday, during the presentation of the budget, Finance Minister Sitharaman announced that the government is going to sell its stake in LIC. For this, the government is bringing an IPO. Please tell that Life Insurance Corporation of India is the largest insurance company in the country. LIC owns about three-fourths of the country’s life insurance market.

 

Demonstration against the decision of the government

Opposing LIC’s disinvestment decision, Pradip Mukherjee, vice-president of the Kolkata Division of the Life Insurance Corporation Employees Association, told news agency IANS, “We will hold an hour-long strike from 12:30 am to 1.15 pm on Tuesday. They will also organize demonstrations in all offices. “

Pradeep Mukherjee said that after this we will get on the road and oppose this move. We will also go to all MPs and register our protest.

 

Disinvestment against national interests

Describing the proposal of partial disinvestment of LIC against the national interest, Mukherjee said that this company is currently India’s largest financial company in terms of capital, which has also left behind the State Bank of India. He said that its disinvestment is against national interests.

 

The All India Insurance Employees Association (AIIEA) has also opposed the government’s move, saying that on the first three or four February, an hour-long strike will be held.

AIIEA general secretary Srikanth Mishra told IANS in Chennai that we are against the move. We will first strike for an hour on February 3 or 4 and then decide on our future course of action.

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