Monday, December 22, 2008

Circular No.22



Manishinath Bhawan A/2-95 Rajouri Garden

New Delhi.l 110 027

Phone: 2510 5324

Fax: 2510 5324 

Cell: 98110 48303

E mail:


Dated: 19th December , 2008




Dear Comrades,


The global economic recession in developed countries and its reflection in Indian economy due to the neo liberal economic policies pursued by the successive Govts in India during the last one and half decade forced the Govt. to stimulate selected sectors of industry.. However it seems to have not learnt its lesion.   In spite of the bankruptcy and closure of the so-called world  financial institutions and Insurance  giants, the Govt. of India is bent upon  in its pursuit of further liberalizing the economy and privatizing the assiduously built public sector organizations like LIC.. The Govt. is introducing the bill to amend LIC Act (to increase equity from 5Crores to !00 Cr.) in Lok Sabha on Monday  22.12.2008.  Another Bill  to raise money from Market (disinvestment) is to be introduced in Raja Sabha on the same day to allow public Sector Insurance Companies to raise money from market.  Unions in LIC and General Insurance Companies are preparing for a one day protest Strike on the next day i.e. 23rd December, 2008. The State COCs and all affiliated organizations are therefore requested to organize solidarity  protest a demonstration on that day.  The COCs may chalk out and organize programmes on 23.12.2008 alongwith the Unions in the Banking sector, as we have been informed that BEFI has also conveyed similar decision to all its units..


With Greetings,

Yours fraternally,


KKN Kutty,

Secretary General.