32nd General Conference of Northern Zone Insurance Employees’ Association to be held at Ludhiana from Nov 4-6

Ludhiana, November 3, 2019: 32nd General Conference of Northern Zone Insurance Employees’ Association being held at Ludhiana from 4th – 6th November 2019 is taking place at a very crucial juncture. According to association’s Convenor Amarjit Singh, the reports are emanating from various media reports that Government of India (GoI) is going to list Public Sector LIC in the stock market. This decision of the government will be a retrograde step that will hamper the development activities in the nation building and also social security cover to the people of this country. It is the well-known fact that as on date the investment of LIC in the development activities in the nation building has exceeded Rs.28 lac crores. It is also a fact that LIC is covering more than 40 crore lives in social security net in the country. Despite present economic slowdown in the country market share of LIC is on increase and LIC has become the leader of the market in insurance field. Hence such move to list LIC in stock market should be resisted by all sections of society in the country. He added an orchestrated malafide campaign to malign the image of LIC by vested interests has been going on in social and print media. The investment by LIC is contrarian in nature. But the lobby of vested interests is projecting the facts in most twisted way suitable to their malafide intentions. Insurance Regulatory Development Authority (IRDA) has also cautioned the public on this obnoxious propaganda. Insurance employees too are campaigning to clear the air on the subject. While releasing the press note here today, Amarjit Singh told that high rate of unemployment in the country coupled with economic slowdown has endangered the security of jobs for the existing workers. Due to consumption based economic development instead of investment-based economy the country is moving towards the economic danger zone. It will result in further downward gross domestic product thus making the economic slowdown a tearful environment for the youth and the nation. The working class of this country is resisting the move of the government to snatch away the rights of the workers which are available to them since 1926. Under the garb of reforms in labour laws the government is hellbent to snatch the right to strike and also other constitutional rights from the workers. The most urgent need for the workers in the present environment is to protect themselves from the above onslaughts of the Modi Government. The unity and integrity of the country is also at stake. The communal line being adopted by the government is to be resisted not only by the working class but also by all sections of the people so that the constitutional values as enshrined in the Constitution of India are preserved, he said. “This conference will deliberate on all such issues of the national importance threadbare and will decide the line of action for insurance employees in protection of their rights and also to safeguard the unity and integrity of the country”, said Amarjit Singh. He further told that before start of the conference, a rally of LIC employees will march from Guru Nanak Dev Bhavan, Near Bharat Nagar Chowk, Ludhiana at 9.00 am on 4th November 2019. After the rally and flag hoisting ceremony inaugural session of the conference will start. This historical conference will be inaugurated by Rupchand Pal, Former Member of Parliament and also Former Chairman, Parliamentary Committee on Public Sector. The leadership of All India Insurance Employees’ Association having 85% membership amongst insurance employees both in Life and General Sector throughout India will also enrich the deliberations in inaugural session and also in delegate session.