Employees of the Life Insurance Corporation of India (LIC), Panchkula, belonging to Class-III and Class-IV categories, held a strong dharna and protest on Wednesday against the Government of India. The protest was organized in response to the Insurance Amendment Bill presented in Parliament, which proposes allowing 100 per cent Foreign Direct Investment (FDI) in the insurance sector in the future.

Raising slogans against the decision, the employees staged the protest under the banner of the LIC Employees Union, Panchkula. Union President Comrade Veena Bhasin and Secretary Comrade Amarjeet Kumar termed the move a regressive and wrong step by the Government of India in the insurance sector.

Addressing the gathering, Amarjeet Kumar, Secretary, LIC Employees Union, Panchkula, said that permitting 100 percent foreign participation in the insurance sector would adversely affect public sector insurance companies, especially LIC, and could jeopardize the interests of employees as well as policyholders.

He added that the government’s decision would lead to increased foreign control in a sensitive sector like insurance, which is against national interest. To register their protest against this policy, the LIC Employees Union, Panchkula organized the dharna and demonstration.

A large number of LIC employees and union members from Panchkula office were present on the occasion and participated actively in the protest by raising slogans against the government.