‘Centre plans to push LIC on privatisation path,’ alleges LICAOI leader

The 6th All India convention of LIC Agents Organisation of India (LICAOI) will be held at Alluri Vignana Kendram at Dabagardens on May 22 and 23.  

Announcing this at a media conference on May 8, LICAOI zonal general secretary P.L. Narasimha Rao alleged that the Centre was planning to push the financially robust LIC onto the path of privatisation by coming out with an IPO, and to subsequently hand it over to corporate groups. As part of this, IRDAI draft ‘Bhima Nigam’ and other policies were brought out by the government. He said that not only the existence of LIC but also that of LIC Agents was put at stake.  

He alleged that the Centre was trying to hand over LIC, banks and other PSUs to some corporate groups. These policies were detrimental to the interests of the common man. He expressed solidarity with the Visakhapatnam Steel Plant (VSP) workers, who have been agitating for over 800 days against privatisation of VSP. He said that the LICAOI would also participate in the VSP stir.  

The LICAOI leader said that the two-day All India conference would be preceded by the South Central Zone conference on May 21. This meeting will deliberate on the protection of LIC Agents and the corporation.  

On May 22, a huge rally with hundreds of LIC Agents, employees and policy holders would be taken out. Former Finance Minister of Kerala Thomas Issac would flag off the rally. Former MP and national president of LICAOI Basudev Acharya and former MP A. Sampath would participate in the rally. The All India convention would be inaugurated by CITU general secretary KN Umesh.  

LICAOI State president T. Koteswara Rao, general secretary G Ravi Kishore, CITU Visakhapatnam district general secretary RKSV Kumar and division president and secretary A. Nagaraju and N.R. Tagore were present at the media conference.