AITUC strongly opposes privatisation of PSUs & Govt sectors

Mumbai, Nov 28

All India Trade Union Congress (AITUC) has strongly opposed the privatisation of PSUs and Government sectors.

Amarjeet Kaur, General Secretary, All India Trade Union Congress (AITUC) and President, General Insurance Employees All India Association (GIEAIA), met Union Finance Minister, Nirmala Sitharaman along with other central trade union leaders in the meeting convened by the Finance Minister ahead of the Pre-Budget Session.

During the meeting, she along with other Central Trade Unions strongly opposed the privatisation of PSUs and Government sectors, highlighting the continued loot of public sector banks, the public exchequer, and the insurance industry. She categorically demanded that the Government must stop the privatisation of LIC and the four PSGICs, including moves such as the LIC IPO, and must withdraw the proposal permitting 100% FDI in the insurance sector, which is detrimental to the interests of the common people of the nation. Smt. She further emphasized the need to fill up all vacant posts, generate more employment and strongly urged the Government to grant one more pension option to existing employees. She also opposed the formation of the four Labour Codes, stating that they undermine workers' rights. Reiterating the long-pending issues of the insurance sector, she urged the Finance Minister to expedite the Gazette Notification of the Wage Revision of Public Sector General Insurance Companies, along with 14% NPS contribution and 30% Family Pension. She also requested an immediate and meaningful conclusion of both Core & Non-Core benefits pertaining to employees and officers, enabling them to work with greater enthusiasm, confidence, and motivation. It was the Kaur’s second meeting with the Finance Minister withi (Secretary General GIEAIA Class 1

)n the last fortnight. In her earlier delegation, she was accompanied by Trilok Singh (General Secretary GIEAIA), Darshan Kumar Wadhwa, A Kumarvel, and Satish Kumar Jindal. Furthermore, the Leadership of GIEAIA has met Senior Officials of the Department of Financial Services (DFS) three times in the last fortnight including the one on November 25.

The DFS officials have assured that the issues raised are on Fast Track and will be addressed very shortly.