TERMING the UPA government’s decision to allow FDI in pension and insurance sectors as a suicidal step, Bharatiya Mazadoor Sangh (BMS) has decided to protest outside the Parliament on October 12.
In a statement issued in New Delhi on October 5, BMS general secretary Shri Baijnath Rai said allowing FDI and thereby pushing the lifelong hard core saved money of workers towards share market would definitely create uncertainty in the mind of workers. “When the Government has said nothing about the guarantee of pension having linked with market price, how does it have any right to put the old workers in uncertain condition? It is to be noted that the Parliamentary Standing Committee on Finance has unanimously recommended for not raising the existing 26 per cent FDI in insurance sector and not more than 26 per cent FDI in pension fund. The BMS seeks clarification as to what led the Union Government to defy these recommendations of the Standing Committee,” the statement asked.
The BMS said similar is the case of insurance. Since the insurance sector is largest and has best performance in the world, we fail to understand why the Government is allowing private sector and FDI in these sectors. Therefore, the BMS outright reject the decision of the Government for allowing FDI in pension and insurance sectors. It has called upon a meeting of all concern federations in Delhi on October 12 for finalising strong action plan against these decisions and to demand immediate withdrawal of it.
(FOC)
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