The General Insurers (Public Sector) Association of India (GIPSA) appealed all the constituents of Joint Forum of Trade Unions (JFTU) in Public Sector General Insurance, (PSGI) employees to withdraw the strike call scheduled on July 11 assuring that they are reaching out to the Department of Financial Services (DFS) for early clearance of wage revision and expected positivity in early next week.

On the written request of GIPSA CE, JFTU decided to defer the strike till July 15.

In the meantime major Central Trade Unions, CTU’s of India - Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), Hind Majdoor Sabha (HMS), Centre of India Trade Unions (CITU), All India United Trade Union Center (AIUTUC), Trade Union Coordination Centre (TUCC) Self Employed Women’s association (SEWA), All India Central Council of Trade Unions (AICCTU), Labour Progressive Federation (LPF), United Trade Union Congress (UTUC) have written a letter to Union Finance Minister Nirmala Sitharaman on July 6 regarding settlement of Wage Revision of Public Sector General Insurance, PSGI, Employees at the earliest, said Prashant Dixit, General Secretary of General Insurance Employees’ Union, Western Zone and Convener, JFTU Nagpur unit.

In the letter the CTU’s mentioned that it is sheer neglect of public sector employees. Government leans heavily on them to carry out their various schemes. A cursory look at the results of just one PSGI company - Oriental Insurance Co Ltd. - shows that while implementing AYUSHMAN, RSBY, PMFBY, PKSBY, which the private insurance companies hardly ever handle, the company sustained a loss of Rs 2674.12 crore.

In 2020-21, the share of PSGI companies in Government Health Schemes was 84 per cent and 75 per cent in 2021-22. They have contributed Rs 57000 crore by way of GST to the Government kitty, besides thousands of crores of rupees in dividend since 1971. The letter further highlighted, “As for the PSGI Employees, what is even worse is that in a meeting held in Mumbai on 4.04.2019, the then Chairman of GIPSA had assured a salary revision better than that given to the employees of LIC, i.e. 15 per cent; and now the offer made is a stingy 7 per cent.”