IRA Bill suicidal 8212; Union

The delegation told the minister in the memorandum that 8220;as an ardent supporter of swadeshi and a representative of the people of Surat in the Lok Sabha, we hope that you will request the government to abandon this ill-advised and anti-people measure.8221;

As the Life Insurance Company LIC and General Insurance Company GIC were providing excellent services, almost on a non-profit basis, it was morally wrong to harm them and the people of the country, they said.

SDIEU president Kapil Purohit and general secretary Jaimin Desai further added that the union minister had assured the delegation that he would do whatever possible in this direction.

The delegation also attached copies of an All India Insurance Employees Association letter sent to all MPs on October 12 this year, asking them not to support the bill, a copy of a news item where President K R Narayan cautioned the finance minister against passing the bill too soon, a copy of a news item where BJP MP Kirit Sommaiya, from Mumbai, warned the prime minister of the dangers of allowing multinationals into the insurance sector and a copy of J Jayalalitha8217;s press statement, denouncing government attempts to privatise the sector with the memorandum.