Karnataka - Hubli-Dharwad   

LIC staff strike work in Dharwad

DHARWAD: Protesting against the alleged delay in fulfilling their demands by the Life Insurance Corporation of India, employees of the corporation went on a strike here on Thursday. It was in response to the call given by the All India Insurance Employees’ Association and other organisations.

They gathered in front of the LIC Divisional Office and staged a demonstration. B.N. Poojary, general secretary of the Insurance Employees’ Union, and leaders of other organisations addressed the gathering. They condemned “delay tactics” of the management in fulfilling their demands. They said that because of the “delay tactics”, wage revision, which was due from August 1, 2007, had not been done. They said LIC had assets worth Rs. 10 lakh crore and paid a dividend of Rs. 929 crore on an investment of Rs. 5 crore to the Centre for 2008-09 alone. It was the only insurance company which had not been affected by the global financial crisis. Yet, the management had been postponing the issue of wage revision by offering only 17.5 per cent wage hike, they said.

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