Proposed Amendments to LIC Act 1956 | AIIEA-Proposed Amendments to LIC Act 1956
- The government has proposed to carryout amendments in the LIC Act 1956 to facilitate its decision to list LIC in the stock markets through an IPO.
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
LIC BUILDING SECRETARIAT ROAD HYDERABAD 500 063
Cir. No. 09 / 2021
08 March, 2021
To
All the Zonal / Divisional / State / Regional Units
Dear Comrades,
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We reproduce here in below a letter addressed to the Speaker of Lok Sabha by the Joint Front of Unions viz; the AIIEA, Federation of Class I Officers’ Associations, NFIFWI and All India LIC Employees’ Federation, on the issue of amendments to the LIC Act 1956. The letter is self-explanatory.
This may please be brought to the notice of all our comrades.
With Greetings,
Comradely Yours
General Secretary
FEDERATION OF LIC CLASS I OFFICERS’ ASSOCIATIONS
NATIONAL FEDERATION OF INSURANCE FIELD WORKERS OF INDIA
ALL INDIA INSURANCE EMPLOYEES’ ASSOCIATION
ALL INDIA LIC EMPLOYEES’ FEDERATION
Date: 08.03.2021
The Hon’ble Speaker,
Lok Sabha New Delhi
Dear Sir,
Proposed Amendments to LIC Act 1956
The government has proposed to carryout amendments in the LIC Act 1956 to facilitate its decision to list LIC in the stock markets through an IPO. These amendments are listed as part of the Finance Bill. The listing of LIC will have far reaching consequences to the interests of its 40 crore policyholders and the national economy as a whole. The proposed amendments through a Finance Bill will escape close scrutiny of a very important economic decision.
We, therefore, request your good self to advise the government to delink these amendments from the Finance Bill. This will enable a closer scrutiny of the proposed amendments by the parliamentary standing committee by giving an opportunity to all stakeholders to present their views. We would like to mention that our organisations representing all sections of the LIC employees have strong reservations over the proposed amendments. These reservations are based on sound reasoning.
We look forward to you for necessary action in this regard. Thanking you,
Yours faithfully
| Sd/- S. Rajkumar General Secretary Federation of LIC Class I Officers’ Associations |
Sd/- Vivek Singh Secretary General NFIFWI |
Sd/- Shreekant Mishra General Secretary AIIEA |
Sd/- Rajesh Kumar General Secretary AILICEF |