LIC officers, employees oppose IPO, hike in FDI
The Hindu
Opposing the Union government’s decision to list Life Insurance Corporation of India (LIC) in the stock market through an IPO, the decision to increase FDI limits in the insurance sector to 74% from 49% and privatise one public sector general insurance company, the employees and officers of LIC observed a one-day strike in Dharwad on Thursday in response to a nation-wide strike call.
LIC employees, officials and also former employees staged a demonstration in front of the divisional office of LIC in Dhawad and vehemently opposed the Union government’s move. Raising slogans against the Centre, they said that selling shares of LIC was nothing but snatching savings of commoners and filling the coffers of a few. The speakers addressing the protestors said that LIC belonged to the people of India and hence, the sale of its shares would mean depriving the people of “their jewel”.
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