Insurance staff to strike work

CALCUTTA, NOV 7: Over two lakh Life Insurance Corporation (LIC) and General Insurance Corporation (GIC) employees all over the country will observe a nation-wide strike on Dec 11 in protest against the Vajpayee government’s move to privatise the insurance sector bypassing Parliament, according to Gurudas Dasgupta, MP.

Dasgupta, who is president of All India Lic Employees Federation and GIC Employees All India Association said that four unions of the LIC and GIC employees will stage demonstrations on Nov 13, stay out from work for one hour on November 20 and launch March to Parliament on Dec 8 in support of the demand. Dasgupta alleged that several representations to the prime minister and union finance minister urging them to desist from implementing such a move failed to impress upon the Centre.

He said govt’s bid to set up a joint sector venutre in the insurance sector, having 26% foreign equity and 14 % of the NRI would in fact spell disaster.