‘Government forcing LIC to invest in cos hit by financial problems’
| Date :16-Apr-2019 |
Staff Reporter:
Former Chief Minister and Congress Lok Sabha candidate from Bhopal, Digvijay Singh accused Modi government of twisting the arm of Life Insurance Company (LIC) to invest into companies facing financial crisis. He apprehended that if such things continue then he fears for the future of LIC. Addressing a press conference at party headquarters, Digvijay Singh told that there are many companies in which LIC was forced to do the investment as part of bailout package. By seeing the present circumstances, it is a matter of concern that what will be the future of LIC? He also claimed that around 45,000 employees of BSNL have been rendered jobless.
BHEL, which was one of the crowns in PSU sector, is working with 6,500 employees. Once it had the capacity of 22,000 employees. Now, such is the condition that work orders are being awarded to private players. Mounting attack on Modi government, he claimed that LIC like another PSU- ONGC, is being forced to buy share of financially troubled Gujarat Petroleum Corporation which is having debt of around Rs 20,000 crore.
“Modi government wants to end PSUs to extend benefit to private companies,” he alleged. Coming on wage revision of LIC and bank employees, he stated that wage revision is pending since 2017. Moreover, he told that agriculture insurance companies are mostly private and annually they are reaping profit of Rs 6,000 crore to Rs 12,000 crore. He said that Congress has told in its Vachan Patra that if party comes to power then the State will have its own agriculture insurance company. Talking about GST, he told that wherever in world GST succeeded it succeeded because of single slab and contrary, India is having multi-slab GST. He charged that without preplan, GST and demonetisation were implemented, resulting into disaster. On this occasion, Congress media cell chairperson Shobha Ojha was also present.