LIC employees to observe daylong strike on March 18

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STATE TIMES NEWS

JAMMU: Continuing their struggle to demand conclusive negotiations on wage revision due since 01-08-2017 and also against IPO in LIC, a number of LIC employees held a massive demonstration on Monday under the banner of Joint Front of LIC Class-1 Federation, National Federation of Insurance Field Workers of India and All India Insurance Employees’ Association during lunch recess, in offices of LIC of India across Jammu & Kashmir. The demonstrations were jointly led by Vijay Khajuria- Secretary Class-1 Federation Srinagar Division, Rakesh Magotra- Secretary National Federation of Insurance Field Workers of India Srinagar Division and Pawan Gupta- Secretary Northern Zone Insurance Employees’ Association Srinagar Division.
Speaking at DO Cell Jammu, the leaders demanded immediate negotiations on wage revision of LIC employees resulting to the conclusion of wage revision that has been due since 1st August 2017.
“It has been more than three and a half years that employees are devoid of their right. This inordinate delay has caused a lot of resentment among employees. Inspite of fact that productivity per employee has increased to a big extent and servicing to customers has touched the sky, the aspect of wage revision of employees is not being taken care of. LIC employees are demanding a very genuine wage hike of 40 per cent which they deserve seeing to productivity and paying capacity of industry,” they added.
Opposing IPO in LIC, the leaders said that it is a first step towards privatisation. There is no need of LIC IPO as LIC itself creates 3.5 to 4 lakh crore of investible funds annually, its asset base is more than GDP of 75 per cent of countries in list of United Nations, it will result in harm to policy holders because much concentration will be given increasing profits to shareholders. The employees resolved to fight tooth & nail to protect LIC from privatisation and to work for growth of the industry that has played a very greater role in development of the country and to provide insurance security to the rural India.
It was also announced that daylong walkout strike will be observed by LIC employees across India in support of their demands on March 18, 2021.
Those who participated in the protest included Ravi Pandita, Rajinder Kumar, Romesh Chand, Raj Kumar Sharma, Dinesh Kumar Sharma, Neelam Sharma, Rajinder Kumar, Rajesh Kumar, Raj Kumar, Preet Suri, Nanak Chand and Kishore Lal.