Cover Story Jammu & Kashmir The Lead

LIC employees protest in Srinagar to oppose IPO, increase in FDI in LIC of India

Srinagar, Mar 18: The employees of Life Insurance Corporation Srinagar Division on Thursday staged a protest at press colony Srinagar, opposing the initial public offer (IPO) of the LIC and increase in the Foreign Direct Investment in the LIC of India.

According to the news agency Arshad Hussain, general secretary All India Life Insurance Corporation Federation Srinagar Division told reporters that they strongly oppose the IPO in LIC and foreign direct investment of 74 per cent.

“The government has opened the doors for FDI to take out the assets that have taken the shape over the past 70 years and majorly all government projects are being financed by the LIC of India. We want to protect the people’s money and we will not let this happen,” he said.

He said that this is the money of orphans and widows and these multi-national companies do not have any human consideration as they simply come with profit motive. “They do not have any criteria whether people will die or live. We want to protect that, and we will protect that. Today we are on strike and tomorrow we will find another way to press for our demands,” he said.

He said that the joint front will lead the demonstration and strongly oppose the government’s move and will not let this happen.

“Things can be approved in parliament but that doesn’t mean they are right. We will continue to oppose this and one day we will succeed in telling the people and this will be a mass mobilized effort and when the people will be able to realized, we will definitely be able to challenge and defeat it,” he said


Support Ethical Journalism. Support The Dispatch

The Dispatch is a sincere effort in ethical journalism. Truth, Accuracy, Independence, Fairness, Impartiality, Humanity and Accountability are key elements of our editorial policy. But we are still not able to generate great stories, because we don’t have adequate resources. As more and more media falls into corporate and political control, informed citizens across the world are funding independent journalism initiatives. Here is your chance to support your local media startup and help independent journalism survive. Click the link below to make a payment of your choice and be a stakeholder in public spirited journalism


The Dispatch is present across a number of social media platforms. Subscribe to our YouTube channel for exciting videos; join us on Facebook, Intagram and Twitter for quick updates and discussions. We are also available on the Telegram. Follow us on Pinterest for thousands of pictures and graphics. We care to respond to text messages on WhatsApp at 8082480136 [No calls accepted]. To contribute an article or pitch a story idea, write to us at [email protected] |Click to know more about The Dispatch, our standards and policies