Work hit in LIC offices as employees go on strike

LIC employees staging protest in Jammu on Thursday. — Excelsior/Rakesh
LIC employees staging protest in Jammu on Thursday. — Excelsior/Rakesh

Excelsior Correspondent

JAMMU, Nov 26: The employees of Life Insurance Corporation (LIC) of India under the banner of Northern Zone Insurance Employees’ Association, Srinagar Division on the call of All India Insurance Employees’ Association observed one day strike today as a part of All India strike by 10 Central Trade Unions and nearly 150 independent Federations.
The strike was led by Pawan Gupta, Divisional Secretary NZIEA Srinagar Division and AM Tantray, Divisional President and Ajaz Ahmad Dar, joint secretary. The strike in GIC was led by Com. Darshan Kumar.
Speaking on the occasion at LIC office DO Cell Jammu, Pawan Gupta strongly condemned the economic policies of the BJP led Government as these policies have led to the worst condition of the workers, farmers, educated youth and women. And these policies are an attack on the secular and democratic character of the country. The economy which is already in crisis due to demonetization and wrong implementation of GST; has gone further into deep slumber resulting into technical recession, with negative growth of 23.9 % and nearly10.5 % in two consecutive quarters in this financial year.
The speakers strongly criticized the wholesale privatization of the public sector including the proposal for disinvestment in LIC by bringing IPO in LIC. They said there in no logic with the government to bring IPO in LIC as LIC has already huge funds with itself .The total assets of LIC are nearly Rs 31 lakh crores and total investments are Rs 30 lakh crores with 42 crore policyholders including group policyholders. So the logic that the LIC needs capital holds not good.
They said that the new legislations enacted by the Government regarding Agriculture and Labour laws will severely hit the farmers and the workers and will benefit a long way to the Corporates. So, the strike demands withdrawal of the said legislations. The strike also demanded withdrawal of NPS and implementation of old pension scheme of 1995 which is a defined benefit scheme instead of defined contributory scheme. It was emphasized to increase the family pension in LIC/GIC from current 15% to 30%. Updation of pension on wage revision of employees was also strongly demanded.
While demanding cash transfer of Rs7500 to each household whose income is not taxable, LIC employees also demand for earliest and satisfactory settlement of their wage revision due since August 1, 2017. Romesh Chand, Rajesh Gupta, Dinesh Kumar Sharma and others also spoke on the occasion.