The Centre of Indian Trade Unions (Citu) yesterday termed as anti-national the Union governments proposal to privatise the insurance sector.
Delivering the presidential address at the opening session of the unions three-day all-india general council meeting here, Citu president E Balanandan, MP, said the biggest resources available with LIC and GIC should not be allowed to be transferred to domestic and foreign capitalists in the interest of national development.
He said it is strange that the government, which has repeatedly referred to the resources crunch plaguing the economy, is contemplating steps to transfer this resource mobilising (the insurance) sector to private hands.
Balanandan also urged the working class to join hands with insurance employees in their fight against privatisation of the sector.
The Insurance Regulatory Authority bill, which was to be introduced in Parliament, had to omit the provision to provide licensing of private companies in response to pressure from the public and employees, he said.
Criticising the Centres policy of allowing private participation in core sectors like oil, power, textiles and pharmaceuticals, Balanandan said the new policy of globalisation put into practice by the government has pushed the country into a crisis, which will severely hamper progress and lead to complete dependence on foreign multinational companies.
He urged the trade union movement to take up the issue and fight for the reversal of the present policy. About 500 delegates from different parts of the country will deliberate on the economic and industrial policies of the Union and state governments during the meeting.
Citu general secretary M K Pandhe, vice-presidents S Suryanarayana Rao, Parsa Satyanarayana, Chandi Prasad, Samar Mukherjee and N Prasada Rao and secretaries P K Ganguly, Ravindra Nath and M M Lawrence were among those present at the opening session.
