Srinagar 18 March (KNB): The employees Life Insurance Company Kashmir on Thursday protested at a Press Enclave here against the IPO in the LIC and FDI hike of 74% in it.
Arshad Hussain, General Secretary of All India Life Insurance Corporation Employees Federation division Kashmir, said that they strongly oppose the IPO in LIC and the raising of 74% of FDI.”
He said that they did not want the assets that have developed in 70 years to be left in the hands of foreign investors who do not have any human considerations.
“Even the MNC are making the medicines and drugs with a profit margin which the poor cannot purchase. People are dying for want of medicines, and that will happen here also. People will not be able to purchase insurance. So we oppose that by tooth and nail,” said Hussain.
On the question of their road map ahead, he said that this is the first instance and has opened the gate for demonstration. “We will inform the people what is wrong with this policy. The assets here are being sold, and the government of the day is a loser because they are not able to protect the interest of the people,” he added.
He alleged that the government is selling the assets because the business is a flop. He warned that it would lead the country towards the disaster. (KNB)