KARIMNAGAR, AUGUST 05, 2026: The All-India Insurance Employees Association, Karimnagar district unit, has strongly opposed the government’s decision of Offer for Sale (OFS) 6.5 per cent equity in the Life Insurance Corporation of India (LIC).
Terming the decision anti-national, the AIIEA Karimnagar district unit leaders demanded that the government withdraw its decision to disinvest LIC of India. They criticised the stake sale as a retreat from public sector commitments and an attempt to cover fiscal deficits by selling national assets.
Participating in a lunch-hour demonstration as part of the AIIEA’s call on Wednesday, the Union leaders participated in a dharna in front of the LIC divisional office in Karimnagar town. Union divisional secretary Vaman Rao, divisional leaders Rammohan Rao, Suryakala, Basaveshwar, Anupama, LIC Branch-1 leaders D Srinivas, B Srinivas and others participated in the demonstrations.
Speaking on the occasion, the Union leader Vaman Rao said that “LIC was created to provide security to policyholders and save them from fraudulent practices of private insurers. The other objective of nationalisation was to channelise people’s savings for their welfare. Privatisation of this great institution will negate both these objectives. It is needless to say that a privatised company will have to work to enhance value for the shareholders rather than taking up social obligations and working for the national interest,” he said.
The LIC of India is a people’s organisation and not a stock market to disinvest and sell its equity, he added. Demanding the government to withdraw OFS, the Union leaders urged the government to take up recruitment in the LIC of India and introduce the Old pension scheme.
About the Author
