Employees of the Life Insurance Corporation (LIC) of India on Wednesday held a protest demonstration outside their office in Dhanbad in support of their pending demand of pay revision since 2017. Pay revision of LIC of India and GIC of India is pending since August 1, 2017

The demonstrations were carried out during the lunch hour at all six branches of LIC including branch I in Bartand, branch II in Dhansar, branch III in Jharia, branch IV in Purana Bazar, SS Cell branch in Hirapur and Govindpur branch.

The demonstration was carried out under the banner of a joint front of different worker unions from 1.30 pm onwards. The protesting employees also raised slogans against the central government and accused it of implementing anti-worker policy.

The agitators claimed that the pay revision is their basic right. They mentioned that by delaying its implementation the government was attacking the rights of the workers.

Talking to the media, Hemant Mishra, district convenor of the joint front of LIC unions said, “The growth rate of LIC is much more than the GDP growth rate of the country. The employees have an important role to play in this regard but they are being denied their revised pay.”

Furnishing some more statistics in this regard, Mishra stated that during 2019-20, LIC registered a 12 per cent growth rate over last year by securing over Rs 37,9062.57 crore of premium income.

“The delay in pay revision of such an organisation is regrettable, and the government should immediately carry out a good pay revision of LIC of India employees,” added Mishra.

The protesting employees further announced that to protest against the government decision to bring LIC of India IPO and increase the FDI in the insurance sector from 49 per cent to 74 per cent, they will carry out gate demonstration again on March 8 and March 15.

The participants in the dharna said that the employees of LIC will carry out a nationwide strike on March 15.