Assam LIC Workers Demand Govt not to Sell Stake, Threaten Protests

Jorhat, February 3, 2020:

Employees of Life Insurance Corporation (LIC) staged a demonstration on Monday to oppose the central government’s decision to sell its stake in the company.

Finance Minister Nirmala Sitharaman, while announcing the Budget plan for 2020, said that the government had proposed to sell part of its holding in LIC and added that it would ensure a system to address the liquidity constraints of Non-Banking Financial Institutions (NBFC) and house finance corporations.

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The employees of LIC on Monday assembled outside the LIC office in Jorhat district of Assam and shouted slogans against the government’s move.

“All India Insurance Employees’ Association, LIC Class 1 Officers’ Federation and the organisations of the Development Officers together have conducted nationwide protests outside the LIC offices to express disappointment against the decision,” told one of the employees to Inside Northeast.

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The employees have informed that on February 4, Tuesday, they would be staging a demonstration to make their voices heard and stop the sale of LIC stakes by the government.

It may be mentioned here that although the Finance Minister announced about LIC’s stake selling by initial public offering (IPO), figures are yet to be disclosed.

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