AGARTALA, March 18 (TIWN): Employees and officers of the Life Insurance Corporation (LIC) working in all branches of Ludhiana Divisional Office will observe one-day nationwide strike on March 18 to protest against the decision of the government to list the LIC in the stock markets through an IPO, increase FDI limits in the sector from 49-74%.

The strike has been called by the All India Insurance Employees’ Association (AIIEA), Federation of LIC Class-1 Officers Association, National Federation of Insurance Field workers of India (NFIFWI). All associations are opposing the proposals as these are not in the interest of the insurance industry, the economy and the people.

‘No justification for IPO’ 

The LIC has been very successful in meeting its objectives. The disinvestment in the LIC is the first step towards privatisation. Therefore, LIC’s IPO violates the very objectives of its creation.  The AIIEA has met over 450 MPs to inform them of the inherent dangers to the national economy. The AIIEA requests the people to support the strike on March 18 and support the campaign.