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“Save Public Sector Insurance Companies”-GIEAIA issues appeal to all PSGI employees, officers, pensioners, agents, stakeholders

 “Save Public Sector Insurance Companies”-GIEAIA issues appeal to all PSGI employees, officers, pensioners, agents, stakeholders

Kanwar Inder Singh/ royalpatiala.in News/ September 27,2023

“The General Insurance Employees All India Association (GIEAIA), the largest progressive, radical and the most significant Association in PSGI Companies since inception with a rational and struggling, representative body of Class 1 of the PSGI Companies and was seriously instrumental in organising the Pensioners association in PSGI Companies, is forced to give a clarion call to save the Public Sector General Insurance Companies” said Trilok Singh general secretary GIEAIA.

He said “We sincerely appeal to all Employees, Officers, Ex-Employees, Pensioners, Agents, Surveyors, Advocates, and esteemed Customers to safeguard the PSGI Companies at every level. We also request the entire fraternity to support and prepare for a historic struggle and a groundbreaking campaign in the coming days to save the Public Sector General Insurance Companies from any onslaught and misadventures of the Government and to protect the rights and dignity of all stakeholders.”

Darshan Kumar Wadhwa general secretary GIEAIA(Class 1) said “It is the Public Sector Company envisioned and achieved by our legendary predecessors under the dynamic leadership of Com K.S.B.Pillai, Com Kotharie, Com. Ravindranathan, Com.Srikumar, and many more who struggled to merge all the 107 private companies to form the PSGICS with a net asset of only 18 crores in 1972. They toiled to make it a Public Sector Institution with assets exceeding 1.5 lakh crores today.During these periods, the entire General Insurance industry has witnessed the historic role of GIEAIA in the formation and shaping up of PSGI companies. “

“The leadership of GIEAIA with its stalwarts and living legends Com. Kaka Samant,Com. M.S.Upadhyay, Com. Ummed Singh ,Com. N.P.Upadhyay and many others played a crucial historic role in developing and implementing the Rationalization of Pay and the Service Conditions of 1976, and subsequently, the 1986 Microprocessor Agreement, the 1995 Pension Scheme, and more.These all are contributions of GIEAIA dedicated to all the employees, officers, pensioners of the PSGI companies” said Trilok Singh.

The Public Sector General Insurance Companies (PSGICS), which have played a pivotal role in serving the people of our country and in the making of today’s India, have faithfully implemented a multitude of Social schemes over the past fifty years. However, they are currently facing gross neglect and erosion of their strength due to the Anti-public sector policies of the present Government.

The Government, which boasts of today’s modern “Bharat” and “Make in India,” is purposefully ignoring the role of Public Sector undertakings in its achievements. Instead, they are glorifying the private players, submerged in corruption and leaving the country with looted public money taken from PSU banks as loans.

“Though the PSGI Companies are at the forefront of implementing all social welfare initiatives and the Present Govt taking political advantage of such policies including the Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Suraksha Bima Yojna, the Corona Kavach Yojana, Aayushman Bharat Yojna, and various others, we find with deep anguish that the government is Consciously dismantling and selling the prime public sectors that have built the foundation of modern India. Thus, we feel it our compulsion to make each and every one of you aware of the dire state of affairs in the General Insurance Industry” added Trilok Singh.

“Save Public Sector Insurance Companies”-GIEAIA issues appeal to all PSGI employees, officers, pensioners, agents, stakeholders

Singh claimed that “the present government is not providing necessary and the required support to the PSGI Companies and their Employees, Officers, Ex-Employees, Pensioners, Agents, and other indispensable contributors who are the prime stakeholders of all the PSUs in our country whereas more than Ten Lakhs of crores of rupees have been writeoof of Private players in the last years,instead of increasing the taxes on the Corporates the present Govt has given maximum subsidy and relaxation in taxes to the corporate”.

It has been a long-standing demand of GIEAIA since inception that, being the majority check-off qualified Association with more than 50% support among employees, to be Recognized, and participation in the management should be ensured. Unfortunately, this has not materialized till date. therefore the onus lies with the decision-making bodies of the Govt whose policies have led us to this sorry state of affairs.

Adding further, Singh said “Comrades, due to the pro privatisation policy of the Govt, our companies are gradually losing ground in terms of market share and at this critical juncture are fulfilling the government’s targeted goals to implement the policies and social schemes of the Govt for the common citizen, moreover it is worth mentioning that in the past we have witnessed various senior executives have been taking prized positions in TPAs, Brokers, and other private General Insurance Companies, ignoring the basic rule of following the cooling period and joining the services after retirement.

Spokesperson of the association said “We have taken this issue seriously with GIPSA Management, DFS, IRDA,CVC and the Government and hope for some timely action.Despite this, the present government is quick to claim credit for the welfare programs dispensed through these companies and wasting hundreds of crores on publicity to gain political advantage. It’s strange that certain burning issues, such as an increase in NPS contributions and enhancements in family pensions, which have been resolved in the banking industry and LIC but unfortunately are not being considered in the PSGICS, under the pretense that these companies are not showing profits.”

Additionally, the Merger of Public Sector General Insurance Companies to strengthen the PSGI and to ensure fair and equal opportunities and a level playing field is not receiving the necessary attention from the Central Government.

This lack of serious efforts to create a fair level playing field for public sector general insurance companies and to check the unethical practices of private players has significantly impacted the well-being of these companies.

Furthermore, the Government’s policies and actions are undermining the fundamental tenets of public sector foundation. It is both astonishing and disheartening to witness that private players who have looted thousands of crores of GST and do not prioritize social objectives and policies are being patronized.

In response to these alarming developments, GIEAIA finds it necessary to fight back the Anti-Working class, anti-People, and anti-Public Sector agenda of the current government. It is evident that the government prioritizes the interests of crony capitalists and the privileged class over the welfare of the common populace.

“As a response, we are forced to gear up and launch powerful nationwide struggles and campaigns, with a special emphasis on the rural sector and the middle class.Presently, PSGI Companies are grappling with multifaceted challenges from both within the industry and external forces. Today, it is our patriotic and historic duty to expose these forces and to fix their liability. We also aim to expose the entities benefiting from unethical connections with TPAs, Brokers, Private players, Mediators, Officials at various levels and various other vested interests” added the spokesperson.

After careful consideration, GIEAIA has resolved to initiate a historic struggle in conjunction with like-minded associations, the JFTU, and with the support of central trade unions, WFTU, and the wider public.

Singh added “We stand committed to confronting these injustices and are ready to initiate a series of agitations and Trade Union actions along with the likeminded associations by going for a Massive Signature Campaign, Seminars Conventions, Memorandum Submissions, Batch Wearings, Gate Meetings,Dharna on 4th October under the banner of JFTU,further Dharnas at all major centers, meeting the political leadership and if forced will go for one hour,two hour and a Complete strike action throughout the country.”

GIEAIA firmly stands by the following slogans:

1.Public sectors for public welfare and not for corporate loot.

2.Merger of PSGI Companies to strengthen the PSGI.

3.Restoration of bargaining rights and the right to Wage negotiation without any rider and linking it with performance of the employees and officers.

4.1995 Pension Scheme for all.

5.30% Family Pension, as extended to Banks and LIC, as per Central Government Pension rules.

6.14% Management contribution to NPS as interim relief until the 1995 Pension Scheme is achieved.

7.Immediate Recruitment in all Cadres for better customer service and better market Penetration.

8.Updation of pension.

“We solicit your active support and participation, shoulder to shoulder, to save the PSGI Companies and to fight for the causes of all sections of the Employees, Officers, Pensioner’s and all the Stakeholders of the PSGI Companies, to protect the industry and the interests of the people of India, as envisioned in the preamble of the General Insurance Business Nationalization Act” said Trilok Singh.



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