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Journalism of Courage
NEW DELHI, DEC 1: Almost two lakh employees of both the Public Sector Life Insurance Corporation of India (LIC) and General Insurance Corporation (GIC) went on a day’s strike to protest against the move of the Vajpayee Government to open up the crucial sector by passing the Insurance Regulatory and Development Authority (IRA) Bill in Parliament.
Thousands of employees of banks in West Bengal also joined the strike in support of the demands of the insurance sector employees. The Bill, once passed by the august House, would pave the way for the multi-nationals to participate in the sector which had been protected since Independence.The Left parties had earlier declared that they would be opposing the Bill in Parliament.
Many Opposition party leaders had also expressed their reservations on the Bill as foreign insurance companies could benefit the most once the insurance sector was opened up. Barring the 14,000 Class I officers, 1.85 lakh employees of both LIC and GIC and its subsidiaries were on strike, joint secretary, All India LIC Employees Federation, B S Rawat said.
“Though few offices were open manned by Class I officers, work did not progress at all,” Rawat stated, quoting reports from the offices all over the country.
Criticising the move of the BJP-led coalition Government, Bank Employees Federation of India (BEFI) general secretary S Bardhan said the Government had been trying to dilute its financial stake in the state-owned companies far below the present 51 per cent, which would go against the sentiments of the people.
