early times report
Srinagar, July 21: 15TH Conference of Northern Zone Insurance Employees’ Association Srinagar Division, representing LIC employees of Jammu and Kashmir, affiliated to All India Insurance Employees’ Association, was held at Press Club Jammu. Com.
Naveen Chand- General Secretary NZIEA, Northern Zone was the Chief Guest; and Com. Anupama Sachdev-Assistant Treasurer NZIEA and Com. Raghunandan Parsad-Secretary NZIEA were the Guests of ‘Honour’.
The Conference was presided over by Com. Syed Aadil Imam-President NZIEA Srinagar Division. The Report for the Conference was presented by Com. Pawan Gupta- Divisional Secretary NZIEA Srinagar Division. Speaking on the occasion, Com. Naveen Chand lambasted on the anti-worker, anti-people, anti-farmer policies of the Central government. He demanded immediate RECRUITMENT in class 3&4 cadre in LIC saying that while the in force policies in LIC has grown by 410 percent over the years, its staff strength in class-3&4 cadres which stands at nearly 41403 as on 31-03-2025 are estimated to go down to nearly 26000 as on 31-03-2028 .
He strongly opposed hundred percent FDI in Insurance sector.
The total FDI, at present, in insurance sector, is only around 32% of the capital employed and so increasing the limit from 74 percent to 100 percent has no logic. Moreover, foreign capital can never be a substitute to the domestic savings.
The Insurance Laws Amendment Bill proposes to lay down the frame work for composite licenses, lowering the minimum equity capital requirements, bringing solvency margin requirements and giving more powers to IRDAI which has attempted to weaken LIC.
The four labour code are a serious threat to the working class as these will snatch our legal right of ‘Eight hours work’; and the workers will be compelled to work for twelve hours or more as per the order of the pro corporate government. The Resolutions unanimously adopted were- To demand recruitment in LIC in Class-3 and 4 cadres, To scrap NPS and demand OPS, Withdrawal of Four new Labour Codes, To oppose FDI Hike in Insurance sector to 100%, To oppose Insurance Laws’Amendement Bill, AGAINST PRIVATISATION OF PUBLIC SECTOR, particularly LIC, Merger of Public Sector General Insurance Companies, FOR MSP TO FARMERS as per Dr. M.S Swaminathan report, Against rising unemployment, Against increasing Inflation. Election was one of the main agendas and the New Divisional Committee was unanimously elected as follows-President-Syed Aadil Imam, Secretary- Pawan Gupta, Vice Presidents- Dinesh Kumar Sharma and Amarjeet Singh, Joint Secretaries- Rajesh Gupta, Ajaz Ahmad Dar and Rajesh Kumar, Treasures- Raj Kumar,Assistant Treasurer-Rohula Fayaz, Auditors- Mohan Lal and Gulshan Singh, Office Secretaries- Harkesh Singh and M Y Koul, Invitees to Secretariat NZIEA Srinagar Division- Priya Sharma and Asiya Zaffer Khan.
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