Sunday, May 2, 2010

LIC employees to resist privatisation

KOCHI: the LIC Employees �Union is hopeful that the provisions contained in the LIC amendment Bill, which are harmful to the interests of the employees, will be removed. The union had represented the matter before the parliamentary standing committee, which had recommended the withdrawal of the relevant clauses, said K. Venugopal, general secretary of All India Insurance Employees Association. He was inaugurating the silver jubilee convention of the Ernakulam division of LIC Employees Union here yesterday. He alleged that the Union government had introduced the amendment bill as part of its privatisation agenda. One of the provisions was to withdraw the government guarantee to the public sector insurance policies. The withdrawal of the guarantee would affect LICs prospects

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