Opposing the proposal to come out with an Initial Public Offer (IPO) of the public sector undertaking – Life Insurance Corporation of India, the employees affiliated to various trade unions staged a demonstration near VVD Junction here on Saturday.
The Insurance Employees Union members said that the LIC of India’s assets should not be diluted in any form as it may be a ploy by some private corporate housesto gain entry through backdoor. Hence, it should always remain with the government. The justification by the Central government for listing it in the stock market and subsequent dilution cannot be accepted.
The trade unions would intensify the agitations and ensure that the LIC of India remained intact only with the government for all times, the speakers stressed.
The LIC employees union divisional joint secretary Srinivasan presided. The CITU State secretary R Rasal, INTUC State working president P Katirvel, HMS State general secretary Satya and others spoke.