Jharsuguda Life Insurance Employee’s Association protests over the FDI in Insurance and Pension Sector

Jharsuguda: Today Jharsuguda Life Insurance Employee�s Association had protested against the increase in FDI in Insurance sector as proposed recently by the UPA Govt. under the guidance of the Sambalpur Division Life Insurance Employees Association�s President Arun Kumar Chaini and the Sec. Om Ratnakar Pradhan.

According to the association, LIC is a government institution and which is being running successfully and as per the Indian Market Research Bureau, Life Insurance is still No.1 preferred by the consumers.The Association has protested against yesterday�s Cabinet�s proposal for allowing up to 49 percent Foreign Direct Investment or FDI in Indian insurance companies – up from 26 per cent previously. In the pensions sector, previously closed to outside investors, foreign groups will also be able to buy up to 49% equity.
In this context the All Indian Employees Association have already submitted a memorandum and have shown there disinterest about this proposed FDI in Insurance Sector.They have blamed the UPA Congress Party of playing with the futures of the people by inviting foreign players in this sector. Deoram oram , Debasiss Bhoi . Ranjit Dhurva , Asish Sukla , Susant Panigrahi , Anak Naik , Rita Minz , Rishi Lala along with several other LIC Employees were present n this protest.